The measures would go further than ever before in asserting international control over Greek budgetary decision-making.

The proposals, which EU officials said have support in France and the European Commission, would also require automatic, across-the-board spending cuts if Greece veered off the bailout’s revised deficit targets, according to a copy of the plan obtained by the FT.

“It’s a tough proposal, but it is realistic,” said one senior European official involved in the negotiations. However, the International Monetary Fund remains sceptical of the measures.” (Read Full Article in Financial Times)