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Germany wants Greece to give up budget control (Reuters)
Source: Reuters
Exclusive: Germany wants Greece to give up budget control
By Noah Barkin
BERLIN | Sat Jan 28, 2012 8:39am EST
(Reuters) - Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.
"There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously off track, whether this can simply be ignored or whether we say that's enough," the source said.
The source added that under the proposals European institutions already operating in Greece should be given "certain decision-making powers" over fiscal policy.
"This could be carried out even more stringently through external expertise," the source said.
[font size=1]-snip-[/font]
By Noah Barkin
BERLIN | Sat Jan 28, 2012 8:39am EST
(Reuters) - Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.
"There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously off track, whether this can simply be ignored or whether we say that's enough," the source said.
The source added that under the proposals European institutions already operating in Greece should be given "certain decision-making powers" over fiscal policy.
"This could be carried out even more stringently through external expertise," the source said.
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Read more: http://www.reuters.com/article/2012/01/28/us-eurozone-greece-germany-idUSTRE80Q1ZF20120128