Germans want EU budget commisioner for Greece

Page last updated at 08:44 GMT, Saturday, January 28, 2012 - 13:44 EST

BBC:

The eurozone's other members, Germany in particular, fear Greece will need an even larger bailout the second time

All photographs come from the aforementioned news sources, and full copyright ownership is maintained by those sources. This site uses the images purely for reference to the original source and educational purposes, and does not profit in any way from their use.

The Financial Times, which has a copy of the plan, calls it an "extraordinary extension" of EU control.

Greek Education Minister Anna Diamantopoulou called the German plan "the product of a sick imagination".

The European Commission said the budget "must remain the full responsibility of the Greek government".

A German official told the Associated Press eurozone finance ministers were discussing the plan.

Greece has failed to meet targets set by its international lenders.

It is currently negotiating a second bailout, worth 130bn euros (£109bn; $172bn), with its creditors.

If no agreement is reached in the next few days, Greece will not receive the next tranche of funds from its first bailout.

It needs the money to pay off a significant number of bondholders whose bonds mature in March. Without the bailout funds, Greece could be forced into an uncontrolled default from the euro.

Read the whole story: BBC