This past November the Sandridge board changed corporate bylaws requiring a majority of shares outstanding rather than a simple majority of shares voting to enact a change in corporate governance.

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The speaker's election required a two-thirds majority for the first two rounds and a simple majority in the voting reaches a third round, said analyst Macharia Munene, an international relations professor at Nairobi's United States International University.

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What this means is that when a new rule is agreed, there will have to be a majority by voting weight of all EU members, plus a simple unweighted majority of the eurozone "outs" and the "ins".

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