Greece Accelerates Real-Estate And Asset Privatizations

[Joanne98]

Source: WSJ

ATHENS (Dow Jones)--Greece will speed up its privatization of real-estate and other assets, the finance ministry said Thursday, following a decision by the interministerial privatization committee.

Greece plans to raise EUR7 billion between 2011 to 2013 from privatizations, as promised to its international lenders, to slash high budget deficits and a sizeable national debt.

Privatizations were one of many conditions imposed on the debt-laden Mediterranean state by the International Monetary Fund and the European Union for the provision of a EUR110 billion bailout to stave off certain default.

"The government is determined to achieve its target with absolute transparency while safeguarding the public interest, promoting reforms and restructuring in sectors that can contribute to growth and competitiveness," the finance ministry said in a statement.



Read more: http://online.wsj.com/article/BT-CO-20101216-703421.html

[formercia]

1. Argentina Redux

Loan them money they can't repay, then force the privatization of State assets. Does this sound familiar?

Again and again, we hear the same story.

[pipoman]

2. Mexico should do the same.

[Downwinder]

3. Sell the Acropolis?? n/t