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External articles (10)

The Greek government aims to prompt public-private partnerships

The transport ministry plans to select a financial advisor for 23 smaller airports from among Grant Thornton, Lamda Group, and Process Consulting. “The Greek government aims to prompt public-private partnerships (PPPs) towards the upgrade and modernization of [the airports], extending sub-concession deals for separate commercial activities, with the public retaining ownership of the airports.”

Source: GTP Headlines

Greece: people wonder when the pain will end

As the government signs on to another draconian agreement involving austerity and privatization with European institutions and the International Monetary Fund, its people wonder when the pain will end. “Mr. Tsipras's political opponents, who have been gaining ground in opinion polls, have noted that the country will remain under foreign supervision for years to come and will still be subject to harsh austerity measures, including a package approved by Parliament last week that includes further pension cuts, tax increases and privatization of state assets. That view is often echoed by regular Greeks. ‘What exit? This is a life sentence,’ said Giorgos Amanatidis, a 67-year-old pensioner in Athens. He added, ‘Taxes, taxes and more taxes.' Where's the light at the end of the tunnel? What kind of future do my grandchildren have here?’ The pace of privatizations has recently been accelerating.

Source: www.nytimes.com

Former finance minister and prominent economist Yanis Varoufakis denounces the privatization of Thessaloniki port.

Former finance minister and prominent economist Yanis Varoufakis denounces the privatization of Thessaloniki port. As for the Deputy Minister of Economy and Development, Mr. Stergios Pitsiorlas, Varoufakis writes, “it is interesting that in his festive article for the sale of ThPA, [he] did not say anything about [what makes] the sale beneficial: What is the minimum amount of investment that the buyer undertakes to make within 24 months? What kind of industrial relations is [it] bound to offer employees? What synergies have been secured with privatized OSE and Cosco to which Piraeus was sold? The silence of the Deputy Minister on them has [a] reason: The buyer has not made any of the commitments that would make the privatization of ThPA SA [beneficial for Thessaloniki or] Greece in general.”

Source: myportal.gr

Korea is looking for investment opportunities in Greece’s privatization scheme

South Korea's Ambassador in Athens, Ahn Young-Jip, says his country is looking for investment opportunities in Greece’s privatization scheme. “South Korean companies were closely watching the privatization process in Greece and were on the lookout for good opportunities and incentives for making investments, while noting that public-private-sector partnership could be ‘a useful framework for inducing investments.’”

Source: www.amna.gr

The Economist Intelligence Unit backs a government crackdown on resistance to privatization

The Economist Intelligence Unit backs a government crackdown on resistance to privatization. “The government has already faced extensive strikes by trade unions protesting at privatization and tax reform plans, and may now be confronted with even bigger protests. Companies operating in Greece should closely follow further government reform proposals and trade union reactions to them.” [“Greece risk: Labour market risk,” Economist Intelligence Unit—Risk Briefing, 3 April 2017]

Source: peopleoverprof.it

Water is a human right - Stop water privatization in Greece

The German “Network for solidarity with Greece” in Germany, has launched a petition calling on the EU-Commission and the German Federal government to abandon their plans for water privatization in Greece. The network is also calling for all written documents to be made public as well as the minutes of oral negotiations between the Greek government and the institutions concerning the transfer of EYDAP and EYATH to the newly founded superfund. All EU member state residents are invited to sign the petition in English – French - German or Greek.

Source: you.wemove.eu

Greek privatization program offers 'returns of 15% or more' for investors

As the government begins negotiations with its creditors on the second review of its austerity program, among the issues on the agenda are changes in labour law, licensing and the energy market, public administration, privatisations and staffing for the new privatisation fund. CNBC is reporting that returns on private investment in the auctioning off of Greek public assets are topping 15%. “We believe that (returns of) 15 percent and above can be achieved and we're talking risk-weighted returns, not just absolute returns," said Odysseas Athanasiou of Lamda Development.

Greek public sector workers strike over pension reforms

Public sector workers, including hospital staff, go on strike to protest pension cuts and tax increases sought by foreign lenders. “Our strike is just a warm-up, we will stage a 48-hour strike when the government submits the bill (to parliament) with the measures,” said Odysseas Drivalas, a leader of ADEDY, Greece’s 500,000 member public sector union. "Workers have lost almost half of their income since the crisis started, they cannot bear any more of this burden. With labour action, we can at least put pressure on them (the government)." Privatisations are part of the austerity program, and Germany is demanding 50 billion euros in privatisation revenues.

Source: U.K.