Berlin Insists on Privatization Revenues

stathakisIn an interview with Berlin newspaper “Tagesspiegel,” Finance Minister George Stathakis said that if the agreement between the Greek government and the creditors is achieved, Greece could return back to a growth development in the second half of 2016. Stathakis also added that the initial 50 billion euro privatization revenue will be reduced to 15 billion euros. He also highlighted that so far, 2.5 billion euros have been collected, while future privatizations, foresee 6 or 7 billion euros.

However, Berlin denies the possibility of reducing the amount of the 50 billion euro privatization revenue.

The representative of the German Finance Ministry, Friederike von Thiesenhausen, said that the deal that was signed with Greece last summer and aimed for 50 billion euros in privatizations, is still valid for Germany.

In a press conference, the German representative said that Greece had agreed with the international creditors to include in the program revenue from privatizations worth 50 billion euros. “As far as we are concerned, this Memorandum of Understanding is still valid,” the representative said.

A spokesman for  Angela Merkel said that Berlin’s stance on Greece’s bailout program remained unchanged after her meeting with IMF chief Christine Lagarde on Tuesday.

“Our position is that a nominal debt cut for Greece is not possible, also for legal reasons,” Steffen Seibert said, adding that Germany still wants the IMF to be part of Greece’s current bailout program.