Czech Prime Minister criticizes current draft of fiscal compact


Czech Prime Minister Petr Nečas, upon his arrival at an EU summit in Brussels on Monday, said that the current draft of the fiscal compact was unsatisfactory for the Czech Republic. If the Czech Republic was to sign the compact and contribute funds to the IMF, it should be treated as a full-fledged partner, he said. Mr. Nečas added that without full Czech participation in eurozone summits, the pact would not be acceptable.

EU leaders are expected to sign off on the final text of the fiscal compact, aimed at establishing tighter fiscal discipline across the eurozone, on Monday. Another point on the agenda is a treaty creating the European Stability Mechanism.