Greece’s Council of State blocked the transfer of part of Athens Water Company stakes to Privatization Agency (TAIPED). In clear words, this decision prohibits the privatization of Athens Water Company (ΕΥΔΑΠ) and mosτ possible also the upcoming privatization of 51% of the stakes of Thessaloniki Water company (EYAΔ).
The Council of State upheld the application by a group of Athens residents seeking to annul the government decision to transfer 34.033% of the stakes (36,245,240 shares) of Athens Water Company to Greek Assets Development Fund (TAIPED) without something in return.
According to the court reasoning, the decision to privatize the Athens Water Company was against the Constitution articles 5 and 21requiring that the state cares for the public health and guarantees the right to health protection. (sources: reporter.gr & others)
