abstract:The Treaties of the European Union are a set of international treaties between the European Union (EU) member states which sets out the EU's constitutional basis. They establish the various EU institutions together with their remit, procedures and objectives.
TheEuropean Central Bank, operating within the legal limits imposed on it by thetreaties that govern theEuropeanUnion, is providing some liquidity to the banks and a bit of relief on the interest-rate front for sovereign borrowers, but it cannot do much to prevent the insolvent from being forced to default.
All of a sudden, though, Berlin is abuzz with talk of remaking theEuropeanUnion: issuing joint Eurobonds, renegotiating the EU's treaties, even creating a federal Europe.