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The German Plan: Extraordinary Proposal for EU to Take Control of the Greek Budget in Return for More Bail-out Cash

Sunday 29 January 2012

‘The German government has called for Greece to hand control over its finances to the European Union in what would be an unprecedented expansion of Brussels’ power.

Under the plan, in order for the embattled country to receive a second bail-out – now estimated at up to €145bn (£122bn) – a eurozone ‘budget commissioner’ would be given the power to decide Athens’ tax and spending,

The proposed power grab, revealed today by the Financial Times, would be met by strong opposition in Athens, where anti-German protests have already been seen on the streets and in the media.’

Read more: The German Plan: Extraordinary Proposal for EU to Take Control of the Greek Budget in Return for More Bail-out Cash