9:57 AM » Latest EU Deal Still More Can-Kicking: Analysts
The European Union deal announced early Friday morning is yet another small step along the road to solving the euro zone debt crisis rather than a conclusive solution, analysts and economists told CNBC Friday. EU leaders have secured new rules on tougher budget discipline but failed to agree on a treaty change to enshrine the rules, making it more likely that the 17 euro zone states will reach a deal separately. British Prime Minister David Cameron was the most high-profile dissenter from the proposals to grant the EU greater powers. "This is another stage down the road towards fiscal union and also marks progress in terms of the EFSF and IMF. Obviously, this is not the end station," Jens Larsen, Chief European Economist, RBC, told CNBC.