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Greece’s Liquidation while “Assets Strippers” dancing around

The boys have started long ago to lick their lips unbrakedly. Rubbing their hands with a relentless shaking. Their shoes hit the floor with nervous impatience. Saliva running at the same pace the nude dancers of Folies Bergere move in front of them before the discovery of the miracle Viagra. Their eyes are ready to pop out, while their electrocuted brain cells calculate in frenetic speed: What? – How much?  In half-fainted stage the greedy boys are ready to get their hands in Greece. To strip of Greece and rip it of with the blessing of the government. “To save the country” assures me the Greek PM, but I don’t understand the meaning of these words. Most likely, he doesn’t understand them either.

Some land by the sea here, profitable businesses there,  primeur fillets right down on the left

The list of Greece’s sell-off is long: 39 airports, 850 ports, railways, motorways, sewage works, a couple of energy companies, banks, defence groups, thousands of acres of land for development, casinos and Greece’s national lottery.

Also the list of ‘investors’ is long. Greek newspaper Proto Thema listed the German and French interests on Sunday.

According to these lists ,the Germans are interesting in buying the rest of the Telecommunication Company (OTE), Solar energy companies, Post bank, Athens airport, Airports of Thessaloniki, Heraklion and mykonos, the Electricity company (DEI), the Greek Postal Company.

Similar if not even longer is the list of the French bon vivants: Water Company in Athens & Thessaloniki, Athens Airport, Train-OSE, Thessaloniki Port, Greek Petroleum Company, Airport on Crete, Aeronautical systems, Tram network.

Of course, they will be given priority in grabbing the best Greece has. We shouldn’t forget it’s Monsieur Sarkozy and Frau Merkel who hit the deal to save Greece indirectly but their own banks directly.  According to Mid-Term Austerity Programme, adopted with threats and blackmails last week by 155 votes in the Greek Parliament, the liquidation of state assets will begin as soon as possible and with interval of 10 days.

Without a second thought and ngegotiation the Greek government agreed to sell off  equally loss-bringing and profitable enterprises. Sell-off to cover up inability of management.

Greece is for sale at spot prices so it can get 50 billion euro revenues and pay back part of its 110 billion euro loan. Of course, should a second bailout be approved -as planned- at a similar height of appr. 100 billion euro, I wonder what will then Greece liquidate and privatize to pay it back. Most likely a politicians’  underwear and my worn out shoes.

For the purpose of  a quick and lenders supervised privatization a “privatization agency” is needed,  similar to  ‘Treuhand agency’ that sold off 14,000 East German firms between 1990 and 1994, for a bretzel and a Pfennig and drove thousands of East Germans to internal immigration due to unemployment.

“Once the world’s biggest holding company, Treuhand was supposed to sell off state property at a profit but closed its books with a huge deficit and a legacy of bitterness among the legions of workers whose jobs it destroyed. Four million Germans were employed by Treuhand-owned companies in 1990 but only about 1.5 million jobs were left in 1994 when the agency closed. Instead of reaping profits to be distributed to all east Germans, as it was designed to do, it ran up debts of 270 billion marks ($172 billion) in the fire sale of assets.” (Reuters).
Ten years after the reunification, East Germany has yet to reach the economic level of the West.
 
JOKE OF THE DAY: BVMW President Mario Ohoven told German newspaper BILD: “For the the privatization of state enterprises Athens should take experts of our former Treuhand as a consultant.”
 
The success of the Greek-sell-off wonder agency seems well-programmed in advance. Something we could call Assets Stripping.
 
Cheshire Cat went even so far and redefined the term

“Asset Stripper redefined 

A corporate entity, posing as an translational institution, who discovers that a country will create more profit by liquidating the parts rather than through its business operations. Asset stripping can be seen when a ruthless agent controls a government, through its ability to refinance debt, under the pretence of restructuring the economy to return it to profitability. However, the intention is to liquidate all of the country’s assets and sell them individually at a profit.”
 
No wonder European Council President Herman van Rompuy said Europe is sexy! Now that the Follies  concluded their programme the dirty old audience went on stage  and started dancing around. The group has a name. “Assets Strippers”.

 

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3 comments

  1. Crazy Germans buying crete airport while at the same time their people are on the streets sieg-heiling their soccer-team, hahaha!
    For the whole table show they need even more help by anti-greek greeks: Who will translate that shit?

  2. Harald from Austria

    Show them (EU & IWF & the private Investors) the stinky finger and hunt they, with their bonds to the hell !

    Get back YOUR Drachme !

    Best wishes and god luck to you from Austria. KEEP UPRIGHT !

    We will see Greece in this summer

    Harald

  3. From all that I’m hearing it seems pretty clear that Greece will have to default on her loans “at some time in the future”. It also seems pretty clear that a default is still extremely likely even if Greece sells off her state-owned assests. So it seems to me that Greece has a choice to make, she can either:

    1. Sell off her state-owned assets and default later.

    2. Default now and keep her state-owned assets.

    I know which one I’d choose……….