France’s Lagarde: EU Rescues Major Transgressions of the Lisbon Treaty

Euro zone policymakers deliberately chose to “violate” the bloc’s rules in rescuing Greece and Ireland, French Economy Minister Christine Lagarde was quoted as saying. The EU’s governing Lisbon Treaty places constraints on bailouts. EU leaders agreed at a summit on Thursday to amend it by creating a permanent financial safety net from 2013. “We violated all the rules because we wanted to close ranks and really rescue the euro zone,” Lagarde was quoted as saying. – Reuters