As usual, the European Union will have set the agenda for next week’s summit in Brussels. But it always changes, just as it did last month when what was supposed to be a run of the mill meeting turned into a heated exchange over France and the Roma people.

This time, though, the issues are likely to focus on the decision to increase maternity leave in Europe across the board to 20 weeks for mothers and to introduce two weeks of paternal leave.

The measure was approved by a fairly large margin, but EU heads of state are yet to give their approval to the thorny issue, and it will be discussed during the summit. However, while this is an important issue, it is quite clear that the majority of the time is going to be spent mulling over the new tighter fiscal governance rules.

These are essentially rules to reinforce Maastricht’s 3% of GDP deficit and 60% of GDP public debt ratios for sustainable growth. While most countries seem to be on board, one very notable dissenter has made his voice heard.

That person is Jean Claude Trichet – who in time will be seen as the man who saved the eurozone. Trichet is the president of the European Central Bank. It was his insistence and brokering that solved the Greece (and hence Portugal, Spain and Ireland) crisis by making the biggest U-Turn in the ECB’s history. From being an aloof regulator, the ECB took an active role in buying up Greek bonds, to allow the country to avoid default.

After the Greek debacle, Trichet pushed for higher automatic penalties if countries breach the new rules. He had also called for a sin-bin, to exclude nations from the EU’s decision making process, but this was eventually dropped.

In the end, France and Germany (it’s always about France and Germany, or rather Angie and Nik) compromised on a watered down deal. Under the usual disguise of a businesslike approach, Sarkozy got another one over Merkel in conceding to drop the automatic fine (is anyone else invited to this discussion?). She settled for a qualified majority vote by eurozone members to levy sanctions and in turn remove them.

All seemed well and ready to table at the council meeting. But Trichet has given the ultimate head shake by refusing to endorse the package agreed on in this week’s Ecofin meeting. Trichet, it has emerged, was vehemently against Sarkozy’s stance and heavily criticised Mrs Merkel for bending to his will. In a memo, Trichet’s office said: “The President of the ECB does not subscribe to all elements of this report”.

In other words, what Mr Trichet is saying is that the politicians will still wield too much power. France, Spain, Portugal, Greece, Ireland, Italy and others have fiscal figures which are 10% and more over the benchmarks, and indirectly, the ECB President is saying that he does not have faith in EU leaders being willing to ‘punish’ other states who violate the rules. Mr Trichet had previously said that money matters should be under the umbrella of a technocratic system that would provide stability. Political whims and motives do not guarantee that stability. It promises to be an interesting summit. What comes out of it and whether agreement will be reached remains to be seen. One is certain that the German and French leaders will meet Mr Trichet beforehand and will then push the Franco-German agenda forward.