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Merkel backs away from Greek budget control

The Local · 30 Jan 2012, 15:54

Published: 30 Jan 2012 07:33 GMT+01:00
Updated: 30 Jan 2012 15:54 GMT+01:00

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The debate must be on "how Europe can help Greece accomplish the tasks given to it," Merkel said on arrival at an EU summit after Greek officials and some European leaders rejected the proposal.

"But all of this will only work if Greece and other (EU) member states talk about it. This is why I do not want a controversial debate but a discussion that achieves success," she said.

The German suggestion to put Greece under stewardship cast a shadow over the summit which is aimed at sealing a fiscal pact to toughen budget discipline across the EU, finalising a rescue fund and finding ways to counter recession.

The idea that Greece might cede budget control to the EU was contained in a German submission to its eurozone partners first revealed late Friday by the Financial Times and confirmed by European sources.

Under the radical plan, denounced by Greek officials, a commissioner appointed by the 16 other eurozone finance ministers could veto budget decisions made by Athens.

German Economy Minister Philipp Rösler earlier on Monday had backed beefed-up EU monitoring of Greece on Monday.

Rösler, who is also Germany's vice chancellor, told the daily Bild that the European Union should step in to ensure that Greece toes the line of budget austerity as it struggles to emerge from a crippling debt crisis.

"We need more leadership and monitoring in implementing the course of reform (in Greece)," he was quoted as saying. "If the Greeks fail to do this themselves, the leadership and monitoring must come in a stronger way from outside, for example via the EU."

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Rösler said that patience in Germany, the paymaster for the eurozone's bailouts, for Greece was wearing thin.

"Time is running out," he said. "There can only be more assistance if the Greek government finally carries out the necessary reforms. The Greeks must finally send a clear message that they mean what they say," he added.

AFP/The Local/mry

The Local (news@thelocal.de)

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Your comments about this article

09:45 January 30, 2012 by jpl82
This is a disgusting example of bullying. Greece is an independent nation, telling them you think the only way to solve their problem is your way or the highway morally abhorrent.

We should be helping them not kicking them when their down. The moral hazard argument is rubbish.

Merkel being such a self-righteous prat will come back to bite the entire country in the ass when the Germans all go on holidays. They can now expect the same treatment Americans got when bush was in power.
13:15 January 30, 2012 by Costas
have read in another of your article that,

"Germany knows its painful history and Germans want to confront it" , also

"Germans should never Let the tragic Nazi history repeat itself "

it means Germans are interested about their history, but the way that young boy talks and acts has nothing to do with their says. probably they need take him back to school along with Merkel.
16:05 January 30, 2012 by derExDeutsche
What? No 'Operation Barbarossa'? No 'Anschluss'? Aww.
17:26 January 30, 2012 by NeverRetail
"Germany knows its painful history and Germans want to confront it" , also

"Germans should never Let the tragic Nazi history repeat itself "

Anybody that believes this statement is a) not Jewish and b) not living on the same planet. Antisemitism is on the rise all over Europe. Especially in France Belgium and Germany. This rise not only due to Muslims Immigants. But increasingly also the Left of the political spectrum.
20:15 January 30, 2012 by raandy
The history s there for all to see, its better when Germany acts in a passive manner .
20:31 January 30, 2012 by coffejohn
Merkel is beginning to look like a rabbit caught in the headlights of an oncoming juggernaut. She knows what to do but cannot bring herself to do it. With time running out she will soon have the decision taken away from her.

Some suggest that the Dutch will force the issue following a report by Citywire claiming that it would be cheaper than thought to exit the Euro.
20:58 January 30, 2012 by carlm
Now Chancellor Pantsuit wants to put Greece on double secret probation until they do their debt/payment homework. What an idiot. Like the Greeks are gonna take orders from anyone, much less some pantsuit wearing kommie from up north. The only solution, short of some rich uncle bailing them out, and that aint gonna happen, is to let Greece go and solve it's own problems.

And anti-Semitism is alive and well in Europe and always will be as long as Europeans are liberals. Liberals are only liberal about the things they care about, anything else they have no tolerance for, especially Jews.
21:36 January 30, 2012 by ChrisRea
@ carlm

Congratulation! You managed to write a post where all sentences contain at least one foolishness. For example:

- "some pantsuit wearing kommie from up north" - if the policies promoted by Angela Merkel are communist, then Warren Buffett wrote "The Capital". Where the heck did you get this from?

- "Liberals ... have no tolerance for (especially) Jews." - you must be joking, right? Or you looked into the dictionary at the wrong letter. What on Earth made you say something like that?
02:10 January 31, 2012 by Runnerguy45
Merkel should stick to her guns. Greece will not fulfil any of the promises unless Germany does it for Greece. Germany should let Greece sink, the greeks are capable of the type change thats needed.
07:16 January 31, 2012 by heyheyhey

You are one sick, angry, sexist, racist mother f!#\|*£ !

Get you stinking arse out of here. We don't need the likes of you spewing you bullsh!t here.

Are you mentally ill? You are certainly dangerous!

I would bet that you try to control the females in your family with an iron fist. Have your daughters rebelled yet? Is that why you are so angry. Has your wife left you yet? Get some help for your mental disease.
06:41 February 2, 2012 by Englishted
The post above :

Pot calling kettle black.
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