Can someone, maybe even Fred clarify what is being said here. That meaning can you please distinguish and explain the meaning of economical covenant and ontological covenant.
It is not essential to the nature of God that He covenants. The FV view appears to be (following Ralph Smith) that God must by His nature covenant within the Trinity. This is not the Biblical view. The Biblical view is that covenanting for God is for us. Even the intra-Trinitarian covenant has respect to the salvation of men. God's relationship with Himself (within the Trinity) is of His essence (perichoresis), rather than a result of covenanting.
For a much better and fuller treatment of the doctrine of perichoresis, listen to the lectures of Doug Kelly on the Trinity. They are the ones in the iTunes Systematic Theology podcast.