Greece Says 'No' to German Fiscal Dependency Proposal

Politics » BULGARIA IN EU | January 29, 2012, Sunday // 17:11
Bulgaria: Greece Says 'No' to German Fiscal Dependency Proposal File photo.

Greek political leaders have unified in rejecting a German proposal to place the fiscal policy of the country under the juristiction of a specially designated EU commissioner.

"There is complete convergence among political actors in Greece regarding measures to be taken to overcome the crisis. This will help us negotiate good conditions," said Greek PM Lucas Papademos, who chaired the meeting held Sunday.

Earlier Greek Minister of Culture Pavlos Yeroulanos had said that the German proposal is "impossible" and will be rejected by all Greek parties.

Sunday PM Papademos met predecessor and PASOK leader George Papandreou, New Democracy leader Antonis Samaras, and Popular Orthodox Rally leader Georgios Karatzaferis to discuss the matter.

"Anyone who faces a people with the dilemma: financial aid or national dignity, has forgotten some key lessons from history," said Greek Finance Minister Evangelos Venizelos before leaving for the European Council.

"Our European parnters know that European unity is based on the institutional equality of the member states and the respect for national identity," added Venizelos.

According to the plan, which Germany announced Saturday, a new commissioner is to have the power to veto budget decisions taken by the Greek government if they are not in line with targets set by international lenders.

This means that Greece should at least temporarily give up its overeignty over tax and spending decisions before it can secure further bailouts.

However, the European Commission has already reacted negatively to the proposal.

It has insisted that “executive tasks must remain the full responsibility of the Greekgovernment, which is accountable before its citizens and its institutions,” according to international media.

The EC, the European Central Bank and the International Monetary Fund have already obtained unprecedented rights over spending in the debt-ridden Balkan country, as strict measures were negotiated with Athens as part of the first Greekbailout loan worth EUR 110 B.

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Tags: Antonis Samaras, George Papandreou, bailout, Germany, German, greece, Lucas Papademos, budget, EU, EC, European Commission, European Central Bank, International Monetary Fund
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