- Changes may be limited to the 17 euro zone states
- Some countries are not keen to make treaty changes
Votes on changes to EU treaties tend to be very close and cause lots of volatility…
Schaeuble also says that the ESM, the permanent replacement for the EFSF may not be brought forward from 2013. I’m not sure whether that means it may not or it can not. Need to wait for the full story for context.