Saturday, January 28, 2012

Germany's New Proposal Is Going to Have the Greeks Fuming

by Simone Foxman

Business Insider

January 27, 2012

Reuters reports that Germany is pushing Greece to give up control over budgetary policy as part of the newest terms of its second bailout.

The wire service cites a source a European source with information about discussions and proposals that are going on between eurozone finance ministers, known collectively as the Eurogroup. They met this past week ahead of a summit of EU leaders on January 31.

The source said that EU institutions already operating in Greece should be given "certain decision-making powers" in handling the country's finances, adding that reforms "could be carried out even more stringently through external expertise."


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