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“EU to Review National Budgets Under Commission Plans”
by EUobserver.com - ANDREW WILLIS   
April 15th, 2010

EUOBSERVER / BRUSSELS - The budgets of eurozone members could first need EU approval before being then being passed on to national parliaments, under radical new plans to be presented by the European Commission this May.

The controversial suggestion drives right to the heart of questions of national sovereignty and is likely to produce heated debate when discussed by the group's finance ministers this Friday (16 April) in Madrid.

Greece's ongoing fiscal crisis has increased member state appetite for greater budgetary surveillance however, with the EU executive confident its proposals will find a favourable audience.

Speaking at a debate on Thursday organised by The European Policy Centre, a Brussels-based think tank, EU economy commissioner Olli Rehn gave an indication of the plan's current details, which have yet to be finalised.

"We should use the first months of the year, say January to July, to request draft national budgets," he said.

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