Germany has begun to play the card its neighbors feared it would. It wants some measure of control of the budget of financially crippled Greece. Germany is the defacto banker of the region’s bailout, and it demands for more say in national budgets in exchange for its money may grow. The process to bailout Greece has slowed because of stalled negotiations with private holder of its debt. Greece has become desperate.
According to 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.
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