Germany wants Greece to give up budget control

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 thats enough, the source said.

The source added that under the proposals European institutions already operating in Greece should be given certain decision-making powers over fiscal policy.

This could be carried out even more stringently through external expertise, the source said.

The Financial Times said it had obtained a copy of the proposal showing Germany wants a new euro zone budget commissioner 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.