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Budgetary sovereignty is jealously guarded by many member states (Photo: trekkyandy)

EU to review national budgets under commission plans

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 g...

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Budgetary sovereignty is jealously guarded by many member states (Photo: trekkyandy)

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