Libération: Greece Selling to Lighten Debt

eydapThe French newspaper Libération published a double page spread dedicated to the privatization efforts by the Greek government that are implemented under the pressure of the troika and in the face of people’s indignation.

“Greece is selling whatever it can in order to lighten the debt due to the innumerable demands of its creditors,” writes the journalist Nathalie Dubois in the article entitled “Greece sells all, Greeks in the wind.”

According to Libération, the Water Utility of Thessaloniki (EYATH) is now on the forefront of the privatization process and has already attracted the interest of eight foreign investors from Europe, Asia, and the United Arab Emirates.

However, the Council of State recently ruled that a similar sale of the Athens Water Utility (EYDAP) was unconstitutional raising major doubts about the EYATH privatization. In the article of Libération it is stated that the president of the HRADF Konstantinos Maniatopoulos was quoted as saying that, “it will be difficult to continue the process for EYATH without taking into account the decision for EYDAP.”

In addition, Ms. Dubois outlines the extensive catalogue of state assets that the Hellenic Republic Asset Development Fund (HRADF) is looking to sell: “38 airports, the Public Power Corporation, thermal springs, 700 kilometers of motorway, 100 ports, hotels, a castle, and 2000 square meters of land in Corfu, hundreds of acres of sea front property…”

She notes though that the program is not advancing due to delays or failures while public opposition is growing and concludes that the IMF is “irritated” as the delays of the privatization program are turning away investors.