Greek Finance Minister Evangelos Venizelos dismissed on Sunday the idea that a European Commissioner should oversee the execution of the Greek state budget, as the debt-laden country struggles to overcome a financial crisis with the support of international lenders.

Under a German proposal leaked to international media, an appointed European official should hold veto power over state spending and revenues collection as part of efforts that Greece meets goals set with European counterparts and International Monetary Fund in May 2010 and exit the crisis.

Amidst missed deficit-cutting targets and delays in structural reforms, Greece is under mounting pressure by creditors to accept stricter terms before the release of vital rescue loans to avert default this spring.

"Anyone who puts a nation before the dilemma of 'economic assistance or national dignity' ignores some key historical lessons," said Venizelos in a written statement released to media, shortly before his departure from Athens to Brussels for an EU summit.

"I am certain that the political leaderships of all European nations -particularly bigger nations that bear increased responsibility for the course of Europe- are aware of how friends and partners, who have joined their historical destinies, raise questions," added the statement.

The Greek official furthermore noted that the October 26 EU summit agreement on the second bailout aid to Athens, provides a provision about the monitoring mechanism for the implementation of the stability and growth program.

This provision was based on the principle that "Greece itself has both the responsibility and the motive to make sure that the program will be implemented," underlined Venizelos.