Germany Calls for EU Control Over Greek Budget - Wall Street Journal

BY WILLIAM BOSTON

BERLIN -- Frustrated with the slow pace of implementation of budget reforms in Greece, Germany is leading a push to force Athens to cede some control over its budget decisions to Europe as a condition of disbursing the next tranche of international aid for the beleaguered country.

Confirming a report in the Financial Times, a European official speaking on condition of anonymity said on Saturday that the reason for such a move is "the insufficient progress on Greece's debt reduction, which in part is the result of the country's extremely decentralized budget process."

The official said that any decision to ...