The EU Council finds a compromise on the capital market. But for 4 hours there is a clash between the small and large states

Cyprus against Germany, Luxembourg against Italy, Latvia against France.

It took over 4 hours to reach a minimum compromise on the capital market, but a deep rift threatened to block the European Council for the entire afternoon, above all due to the clash between small states and large countries that form the European Union which do not allowed us to make decisive steps forward.

At least they are three points of division which were the subject of the summit.

None of the small countries from Cyprus to Luxembourg to Malta want real, deep capital market breakthroughsbecause he wants to continue to protect his sphere of financial autonomy, which allows him to gain resources and economic freedom with respect to the harmonization that the Prime Minister is trying to bring forward.

The second reason for division was harmonization of the laws on business bankruptcy, even in this case all the small countries from the Baltics to Cyprus and Malta are against the large European states, from Germany to France to Italy.

The third reason for division concerns supervision by Brussels of the first two points. Therefore a sort of small transfer of financial sovereignty which is instead rejected by those States which today enjoy a freedom in the capital market of which they are very jealous.

It will be up to next European institutionsafter the June vote, try to bring the disputants to an agreement.