Germans float direct EU control over Greek budget 

A German official says Greece should temporarily cede sovereignty over tax and spending decisions to a powerful eurozone budget commissioner to secure further bailouts.

The official said Saturday the proposal is being discussed among the 17-nation currency bloc's finance ministers because Greece has repeatedly failed to fulfill its commitments under its current €110 billion ($145 billion) lifeline.

The person says the proposal foresees a commissioner holding a veto right against budgetary measures and having broad surveillance ability to ensure the country's debt service.

The official spoke on condition of anonymity because the talks are confidential.

Greece's international creditors are currently negotiating another €130 billion rescue package for the heavily indebted country.

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