EU leaders agree on European Fiscal Compact

EU leaders have agreed a new European Fiscal Compact but the UK and the Czech Republic have decided not to enter into it.

The new Treaty, now a Treaty of 25 countries, will impose German style budget discipline on those EU member states who've chosen to sign up.

It's understood The Czech Republic has objected to the EU Fiscal Pact on constitutional grounds.

The Irish government has said it will seek advice from the Attorney General on whether enacting the treaty would require a change to the constitution.