Bundesbank’s Weidmann Says EU Deal a ‘Fiscal Pact,’ FAZ Reports

Bundesbank President and European Central Bank council member Jens Weidmann said decisions reached at the European summit in Brussels amount to a “fiscal pact, not a fiscal union,” Frankfurt Allgemeine Sonntagszeitung reported.

Weidmann said sovereign rights over budgets were preserved and that the European Union won’t have the ability to directly intervene, according to an e-mailed preview of an interview that will appear in tomorrow’s edition of the newspaper.