Fiscal hawks among Greece’s eurozone creditors are taking an openly firmer line with Athens, including a proposal that Greece transfer €50bn of state assets into a fund to be managed by an external agency.
The plan appears in a paper from the German finance ministry and calls for either the transfer of state assets or a temporary “time-out” from the eurozone.
Germany and other more fiscal conservative Eurozone members say Greece must now go further in its austerity measures and provide greater assurance.
Eurozone finance ministers held talks on Saturday, during which Wolfgang Schaeuble, the German finance minister, told fellow eurozone ministers that Greece would need to do more to persuade Germany to agree to a new loan.
The German proposal could see Greek state assets managed and privatised by an independent trust.
Germany also wants reforms in Greece to be supervised by the European Commission and legislation to ensure automatic cuts if Greece misses its deficit targets.
Full article: Greece debt crisis: German plan demands €50bn of state assets is transferred to external fund (The Independent)