Merkel gets her way on EU’s handling of crisis

GERMANY’S right wing Chancellor Angela Merkel once again got her way on how the EU should deal with the financial crisis at a two-day summit that agreed a treaty change.

This two-sentence addition to the treaty ensures that future bailouts can only be inter-governmental, and copperfastens the rule that the EU cannot bail out eurozone countries.

The leaders succeeded in not fuelling the fires of speculation by talking about the details of the new bailout mechanism they plan to replace the current temporary fund due to expire in 2013.