My Way News - Europe forges fiscal union, sees way out of crisis
My Way News reports: "Working almost to exhaustion and persuading countries one by one, European leaders agreed Friday to redefine their continent - hoping that by joining their fiscal fortunes they might stop a crippling debt crisis, save the euro currency and prevent worldwide economic chaos [...] Friday's agreement - 23 countries are in favor and three more say they are open to the idea - would force countries to submit their budgets for central review and limit the deficits they can run [...] A breakup of the euro would have disastrous consequences. It would almost certainly trigger a financial crisis while banks figured out who owned what and while countries leaving the union awkwardly transitioned back to their own sovereign currencies."

Comment: It appears that Europe has succeeded in a rescue plan for both the euro and the Union. 26 countries said yes, one said no. There is still much work to be done though in ratifying the new treaties (it's not just one) and many steps along the way where things can still unravel. Will the European Union continue to grow and expand or collapse into a smaller more tightly integrated group? Keep watching.