The real sticking point is not about Greece agreeing to the interest rates of its bonds. Its about Greece agreeing to relinquish control of its budget to the Germans forever. (Most likely because this will make it harder to make corrupt payments.)...
Germany's call for an EU-appointed overseer of Greece's budget prompted consternation in Athens and led other European governments to warn against treating Greece differently than other countries.
"It is right that one controls strictly but using one commissioner especially for one country, I don't think is a good idea," Austrian Chancellor Werner Faymann said.
The German view was captured by Michael Fuchs, the head economic spokesman for Merkel's Christian Democratic Union in parliament. In an interview in Berlin, Fuchs said: "The free lunch is over: no external controls, no money. I can't look my constituents in the eye and say anything different."
