1.30.2012 1 Comment
Reuters reported that:
Greece must surrender control of its budget policy to outside institutions if it cannot implement reforms attached to euro zone rescue measures, the German economy minister was quoted as saying on Sunday.
The fact that the German Economic Minister made this already credible statement indicates that Greece lacks control over its budget. The issue at hand is whether the European Union would exercise direct or indirect control over the Greek budget, not whether Greece would control its own budget.
- It’s Official: German Economy Minister Demands Surrender Of Greek Budget Policy, Says It Is First Of Many Such Sovereign “Requests” (zerohedge.com)
- Germany’s Schauble: Greece bailout not guaranteed (marketwatch.com)
- It’s Official: German Economy Minister Demands Surrender Of Greek Budget Policy, Says It Is First Of Many Such Sovereign (livingstrongandhappy.blogspot.com)
- A fitting epilogue (firedoglake.com)
- Germany Demands Greece Give up Control of its Budget (ibtimes.com)
- Greek Premier Seeks Backing for Reforms; Debt Deal Near (ibtimes.com)
- We’re on the brink, warns Greece ahead of summit (telegraph.co.uk)
- Greece Rejects Proposal to Cede Budget Control (02varvara.wordpress.com)
- Now Greece Is Just One Step Closer To Leaving The Euro (businessinsider.com)