European Union treaties don't have to be changed to solve the eurozone debt crisis, the European Council president said.
In a report leaked to the media, Herman Van Rompuy suggested amending a protocol attached to the Lisbon Treaty rather than changing the treaty itself, the BBC reported Wednesday.
Both Germany and France are pushing for a new EU treaty with the United States backing their plan.
Instead Van Rompuy proposes a "new fiscal compact" that does not need lengthy ratification by parliaments or national referendums.
He said tougher fiscal reforms can be achieved by simply amending a protocol. Such a procedure needs national consensus but does not require substantial changes to the EU treaty.
Some of the changes Van Rompuy envisions would give the European Commission power to impose austerity directly on bailed-out nations, the EUobserver reported.
States that flouted debt and deficit rules potentially could have their voting rights in the council suspended.
Van Rompuy's report was prepared for a crucial EU summit that begins Thursday.