Greece will not complete power utility, grid operator sales -minister

[Bosonic]

Source: Reuters

Greece will not go ahead with privatising its dominant electricity utility PPC or power grid operator ADMIE, Energy Minister Panagiotis Lafazanis said, despite promising its creditors not to halt sales that are underway.

The comments from Lafazanis appeared to mark the first sign of open dissent from a minister on the far left flank of the new Greek government over a deal with the euro zone to extend the country's bailout programme.

The Public Power Corporation has already launched a tender to sell a 66 percent stake in its power grid operator ADMIE, and several investors including state Grid Corporation of China (SGCC) and Italian grid operator Terna have been shortlisted as buyers.

"The tender for ADMIE will not go ahead," Lafazanis told Ethnos newspaper in comments published on Wednesday. "The companies have not submitted binding bids so it will not be completed. That is also the case with PPC."

Read more: http://uk.reuters.com/article/2015/02/25/eurozone-greece-privatisations-idUKL5N0VZ1AT20150225

[djean111]

1. Good.

[geek tragedy]

2. Hard to imagine a leftwing party completing those transactions.

Selling the national power grid to China doesn't seem to be in the spirit of their campaign platform.

[FLPanhandle]

3. The agreement was to not stop any sales in progress

The Greeks are viewing the fact that the bids were not binding means the sales were not "in progress".

It will depend on how the EU views this.

Either they agree with the definition of "in progress" or they determine the Greeks are weaseling out of their commitments already.

[cheapdate]

4. When all of the delays and tactics are over and done,

It would seem like the only possible outcome for Greece is capitulation, or default/bankruptcy.

It's like a slow motion train wreck.

[mother earth]

5. To not go ahead with another privatization, at least to me, is very much in line with Syriza, and

I've been wondering if the four month extension might, in reality, be a way of planning an exit from the EU, but to do so in an orderly fashion...while still remaining true to the reforms it agrees to as part of the criteria for the extension.

I'm not sure I'm seeing this as "dissent", but rather keeping in line with Syriza and the people.

I wonder if Greece was definitely going to leave the EU, and since they wanted the "bridge" loan...if the new Syriza gov't is doing all it can to make a transition with the least amount of collateral damage.

[DeSwiss]

6. You got it.

- They're buying the time they need to print their own money and get a fresh set of books.

The EU was a terrible plan from the start. Not the unity, just the EU.

[mother earth]

8. It has turned out to be equally as vile as our own

predatory system, and Germany, of all countries, seems to have no recall of the compassion and forgiveness they rec'd after the war.

With every bit of what I'm taking in these days, I am hard pressed to believe the Syriza gov't can possibly stay with the EU who refuses to change. They've come too far and no wiggle room left.

[DeSwiss]

7. The piecemeal sale of the country of Greece has been cancelled.

- If you have items you wish to return, please bring your receipt and we'll see what we can work out for you......

K&R

[Steviehh]

9. DSK

likrs to use his power and brutallity to rape women. Why should he operate the IMF clients any different?