Praying for success

The latest EU treaty is meant to stabilise the eurozone and ensure greater fiscal obedience but it can’t solve all ills, writes Europe Correspondent Ann Cahill

Olli Rehn, the European Commissioner for Economic and Financial Affairs, noted that the vast bulk of the Treaty on Stability, Coordination and Governance does not actually require treaty status. Its real usefulness will be evaluated once Germany is needed to put more funds on the table. Picture: Mark Stedman/Photocall

The treaty is just the first phase of bedding down the euro and taking the countries that use it to a safe distance from the predators