` ::*This treaty doesn't create new institutions per se. The existing EU institutions will be used, and according to Angela Merkel, the deal will probably be folded into the EU founding treaties after a few years. The focus is on the treaty itself, not what it creates. ``European Fiscal Union`` is not a commonly used term; ``The fiscal compact`` is. I think this article should be named after the treaty; i.e. the short form ``Fiscal Compact``, and have a treaty infobox. This is about an intergovernmental deal, not a new union that has been established. -   `