BREXIT or the Council's "carotte".
The Conclusions include the amendments to the Treaties which are
to occur if the UK decides to remain within the EU. Citizen's
rights to residence under the TFEU will no longer be absolutes, and
will require evidence of economic self sufficiency.
It also includes general indications that the non-Euro Member
States, i.e. the UK can avail themselves of a form of objection or
internal "clameur de haro" to the extent that any Council measure
based on proportional voting attempts to curtail the independence
of UK regulation of its Banking sector.
Quite whether the statement as to Banking Regulation as between
the Euro and non-Euro member States is sufficient to enable the
City's protection as such from the envious and possibly ignorant
claims and aspersions of France and Germany is another matter.
The opportunity may have been lost to write down the fact that
the United Kingdom is in effect an Island state with slightly
different legal and economic characteristics to the continental
majority of Member States, with the exception of Cyprus and Malta;
and, to the extent that the Grecian topography is made up mostly of
sea and islands, Greece. Germany ahs been seeking to take ofver
inter island communications in Greece wth a view to putting the
mothballed elements of its merchant navy back to sea.
Whether the Decision, conditional on the Brexit vote going the
EU's way is enough to shelter the City completely remains to be
seen.
The text of the Conclusions of 18th and 19th February may be
found
here, with the Decision, whose legal effect is dependent upon the
United Kingdom voting to stay in.
What is interesting is that the UK will apparently deposit this
text with the UN in order to ensure that the Consilium does not
backtrack on the Decision. A curious form of rendering the decision
valid outside the institutional hierarchy