Monday, January 30, 2012

A "Budget Commissioner" for Greece?

This just in from the Wall Street Journal: Germany's Wolfgang Schauble is part of a group involved with the resolution of the Euro crisis that suggests the EU appoint a "budget commissioner" for Greece. The effort would aim to secure trustworthiness--and, ultimately, a way out--for the seemingly never-ending circles made around finally coming to a eurozone currency crisis fix. From the article

"Europe is "prepared to support Greece" with the new loan package, Mr. Schäuble said, but he warned: "Unless Greece implements the necessary decisions and doesn't just announce them…there's no amount of money that can solve the problem."
The remarks came as German officials last week floated the radical idea of appointing a European "budget commissioner" with veto powers over Greece's spending, partially suspending Greece's national sovereignty over its budget, in return for aid."