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Greek fury at plan for EU budget control


Greece’s finance minister angrily rejected a German plan for the eurozone to impose a budget overseer onto Athens in return for a new €130bn bail-out, saying it would improperly force his country to choose between “financial assistance” and “national dignity”.

Evangelos Venizelos said the proposal to create a European Union “budget commissioner” with the power to veto Greek tax and spending decisions, revealed by the FT, “ignores some key historical lessons”. He added EU lenders already had sufficient monitoring safeguards in place in its bail-out programme.

Mr Venizelos’s comments came as talks in Athens shifted from the weeks-long negotiations over restructuring its privately held debt to the question of which public institutions will have to pay to fill a widening gap in Greece’s budget figures.

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