http://yanisvaroufakis.eu/2015/05/15/a-blueprint-for-greeces-recovery-within-a-consolidating-europe-brussels-keynote-7th-may-2015/#more-7867
SLIDE 4: LOOKING FORWARD-INVESTMENT
Imagine a Development Bank levering up collateral comprising the equity the state shall retain after privatisations as well as other assets (e.g. real estate) whose value can be easily enhanced (and collateralised) through reforming their property rights. Imagine that it links up the European Investment Bank, the Juncker Plan etc. with Greece’s private sector. Privatisation suddenly escapes any association with fire sales and becomes part of a grand developmental public-private partnership.
SLIDE 5: LOOKING FORWARD-BANKS
Imagine further a Bad Bank that helps the banks shed their legacy non-performing mortgages and unclog their financial plumbing. In concert with the Development Bank’s virtuous impact, credit and investment flows will flood the hitherto arid realms of Greece’s economy eventually helping the Bad Bank turn a profit, and turning… ‘good’ in the process.
(The full transcript is available at the above link, but who knows what "vision" will prevail in these "negotiations". No matter, Syriza is in power & Tsipras & Varoufakis are clearly following theirs.)
A Blueprint for Greece’s Recovery within a Consolidating Europe
Published on May 13, 2015
Speech given in Brussels, at the EBS Conference, 7th May 2015
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