Since the UK is not part of the Euro there is no sense in it signing a fiscal compact and binding its ability to take independent action. If the UK were part of the euro it would be another story. In the meantime the UK will be kept on straight and narrow by the bond markets not the fiscal compact. The UK may be the lightening rod for discontent but it is not part of the problem. The US would not ask us to join a fiscal pact as do not share the same currency. And I am pro-European.
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