FranceandGermanypushedhardforthedeal.AftertoughnegotiationsinBrussels,all17EuropeanUnionmembersthatusetheeuro,andsomeotherEUnations,agreedtotheplan.ThatpleasedGermanChancellorAngelaMerkel."Iamverypleasedwiththeresultsofyesterday'stalks-thisisnotaforeigncompromiseforthesakeoftheEuro.Acrosstheworld,peoplewillseethatwe'velearnedfrommistakesmadeinthepast,"saidMerkel.EUleadershopefinancialmarketswillbereassuredbytheplan'slong-termsolutiontotheeurozonegovernmentdebtcrisis.Greece,PortugalandIrelandhavealreadyreceivedinternationalbailoutsbecauseoftheirdebt,andsomeanalystsfearedevengreaterneedsfromSpainandItaly.EUleadersalsoagreedtogivetheInternationalMonetaryFundanother$260billionforprogramstokeepthecurrentcrisisfromspreading.ButBritainrejectedthedeal.ItisthestrongestoftheEUnationsthatdonotusetheeuroandamajorfinancialcenter.AproposedtaxonfinancialtransactionswasoneofseveralissuesthatraisedconcernsforBritishPrimeMinisterDavidCameron."Whatisonofferisn'tinBritain'sinterestsandIdidn'tagreetoit,"saidCameron.StockmarketsandthevalueoftheeuroroseFridayafterthedealwasannounced.Economistsweresplitaboutwhetherthedealwoulddoenoughtopreventfuturefiscalcrisesandsolvethecurrentproblems.InFrankfurt,Germany,ChrisZwermann,ofZwermannFinancial,saiditmaybejustaswellthatBritaindidnotagreetothedeal."WegetthepossibilitytomakedecisionsfortheEurocountries,whichmeans17countrieswithoutanyinfluencefromothercountrieswhodon'tbelongintothisarea,"saidZwermann.DeutscheBank'sStefanSchneiderwelcomestheagreementtoenforcedeficitlimits."Becauseotherwise,youknow,something,'justlet'spullthecheckbookandwriteacheck'-Ithinkthatultimatelywouldcauseaseriousproblemintermsofdemocracy,"saidSchneider.Thedealneedsfinalratificationbymembercountries,andcouldbesignedbyMarch.
