CRI听力:EU-wide Treaty Change Bid Fails

Attempts to get all 27 EU states to back changes to the bloc's treaty to tackle the eurozone crisis have failed.

French President Nicolas Sarkozy explains the reason of the failure.

"We would have preferred a reform of the treaties with 27 members. That is not possible given the position of our British friends. It will therefore be an intergovernmental treaty for the 17 that is open to all those who want to join us. A large number of countries have let us know they will join. As of this moment, there are two countries who tell us they are staying out. That's Hungary and the United Kingdom."

As a result, the new deal will not include the United Kingdom and Hungary.

British Prime Minister David Cameron says the UK would not join a new European treaty, for it's not in Britain's interest.

"Of course we want the euro zone countries to come together and to solve their problems, but we should only allow that to open inside the European Union treaties, if there are proper protections for the single market and for other British key interests. Without those safeguards, it is better not to have a treaty, but to have those countries make their arrangements separately. That is now what is going to happen."

However, European Council President Herman van Rompuy welcomes the new treaty.

"An intergovernmental treaty can be approved and ratified much more rapidly than a full-fledged treaty change thats, and I think speed is also very important in order to enhance credibility."

IMF chief Christine Lagarde, whose institution has been involved in the bailout of three eurozone members, also says the new treaty is a positive move.

"They want to really consolidate the fiscal union, number two they decided to accelerate the European stability mechanism and number three they decided to add to the resources to the international monetary fund by amount of 270 billion dollars that is to be confirmed within ten days so that is really a good step in the right direction."

During the talks, eurozone leaders agreed to work on tough new budgetary rules, which envisage automatic penalties.

Discussions on the details of the new fiscal arrangement are being conducted right now.

For CRI, I'm Ding Lulu.