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Placing Greece under wardenship 'not democratic': Sarkozy

30 January 2012, 23:23 CET
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(BRUSSELS) - French President Nicolas Sarkozy rejected on Monday a German proposal to place Greece under the supervision of a special EU budget tsar, saying it would be undemocratic.

"There cannot be any talk of putting any nation under wardenship. It would not be reasonable, democratic and efficient," Sarkozy told a news conference after an EU summit.

Sarkozy indicated that German Chancellor Angela Merkel did not back the idea, suggesting that the proposal came from elsewhere in the German government.

"It is not a position that was backed by the chancellor," the French leader said.

The idea that Greece might cede budget control to the EU was contained in a German submission to its eurozone partners first revealed late Friday by the Financial Times and confirmed by European sources.

Under the radical plan, denounced by Greek officials, a commissioner appointed by the 16 other eurozone finance ministers could veto budget decisions made by Athens.

The leaders of Luxembourg and Austria also joined Greece in rejecting the proposal.


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