Spaniards “face a thankless task, like that endured by parents who struggle to feed a family of four with enough money for only two,” Mariano Rajoy said, according to the Financial Times.
Cameron said he made the only reasonable choice to defend Britain’s national interest and said he couldn’t agree to the treaty changes because they would have threatened the competitive future of London’s financial services industry, The Times reported. He was the only leader among the 27 EU nations to reject the treaty.
ECB president Mario Draghi also promised to offer banks unlimited credit for three years; to cut reserve requirements for commercial banks; and to accept a broader range of assets as collateral for ECB loans.
"We're not just talking about a fiscal union but starting to create one," said German Chancellor Angela Merkel. "I believe you can't overestimate the importance of this step."
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