![Britain and France: Seasonal greetings Britain and France: Seasonal greetings](https://www.cer.eu/sites/default/files/styles/spotlight/public/images/spotlight/in_the_press/2011/french_brit_flags_sl-1324285765.jpg?itok=qfau5Puu)
Britain and France: Seasonal greetings
As Simon Tilford of the CER argues, the fiscal compact agreed in Brussels and about which a draft version circulated yesterday hard-wires pro-cyclical, fiscal austerity into the institutional framework of the eurozone.