German finance minister disappointed with EU summit outcome
German Finance Minister Wolfgang Schaeuble said Saturday he was disappointed by the outcome of last week's EU summit where Britain refused to join eurozone members in a new fiscal pact.
"I had been optimistic that we would obtain a change to the European treaties. Unfortunately, this did not happen," he told the Frankfurter Allgemeine Zeitung.
"This would have been a better solution. As things stand now, implementation and communication is more complicated," he said.
Schaeuble said he had hoped the meeting would send a "clear and simple message to the markets".
Leaders from 26 of the 27 European Union member states agreed at a high-stakes Brussels summit last week to back a Franco-German drive for tighter budget policing in a bid to save the eurozone.
After Britain, which does not use the euro, blocked changes to an EU-wide treaty, the other 26 EU states signalled their willingness to join a "new fiscal compact" imposing tougher budget rules.
© 2011 AFP