German Economy Minister Philipp Roesler backed beefed-up EU monitoring of Greece in an interview to be published on Monday, after Athens dismissed calls for it to give up control over its budget.

Roesler, who is also Germany's vice chancellor, told the daily Bild that the European Union should step in to ensure that Greece toes the line of budget austerity as it struggles to emerge from a crippling debt crisis.

"We need more leadership and monitoring in implementing the course of reform (in Greece)," he was quoted as saying.

"If the Greeks fail to do this themselves, the leadership and monitoring must come in a stronger way from outside, for example via the EU."

The idea that Greece might cede control over its budget to the EU was contained in a German submission to its eurozone partners revealed late on Friday by the Financial Times and confirmed by European sources.

Under the radical plan, a commissioner appointed by finance ministers from the other 16 eurozone states would be able to veto budget decisions made by Athens.

The scheme emerged ahead of an EU summit in Brussels on Monday focused on a new fiscal pact to restore budgetary discipline and the confidence of the markets in the crisis-wracked bloc.

Greece angrily rejected the bid Saturday, with Education Minister and former EU commissioner Anna Diamantopoulou calling the notion "the product of a sick imagination."

The European Commission also said there was no question of Athens surrendering budgetary control.

Roesler said that patience in Germany, the paymaster for the eurozone's bailouts, for Greece was wearing thin.

"Time is running out," he said. "There can only be more assistance if the Greek government finally carries out the necessary reforms.

"The Greeks must finally send a clear message that they mean what they say," he added.