A view of the site of the cargo terminal of the Piraeus port near in Athens, on July 13, 2015. AFP PHOTO / ANDREAS SOLARO
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
ATHENS: It's an ambitious idea to say the least: Greece and its creditors want to raise 50 billion euros via privatizations, but previous attempts to sell off the country's assets have yielded meager results.Of that hypothetical 50 billion euros – between a fifth and a quarter of the country's GDP – 25 billion euros is intended to be used to recapitalize the banks, 12.5 billion euros to pay off debt and the remaining 12.5 billion euros is to be poured into investments.Greece's creditors, who have been bailing the country out since 2010, had been calling for privatizations from the start, with the 50 billion euro figure first popping up in 2011 .Privatization agency Taiped has put out to tender assets with a nominal value of 7.7 billion euros since 2011, but has cashed in only just over 3.0 billion euros, according to 2014 figures.
FOLLOW THIS ARTICLE