The Greek government tries to persuade opposition parties and society that the transfer of utility companies in the Privatization Fund does not automatically mean that they will be sold. Three government ministers – Finance Minister Euclid Tsakalotos, Transportation Minister Christos Spirtzis and Energy Minister Panos Skouletis -, insisted in claiming that in one voice during the Parliament debate on the multi-bill with the 15 prior actions Greece has to fulfill in order to received the bailout tranche of 2.8billion euro.
Apparently, the three ministers think that no investor would buy the stat-run enterprises because of their debts.
Privatization superfund does not mean state-run companies will all be sold off
Transportation Minister Christos Spirtzis: “Only Jesus would buy indebted SOE’s!
“To put things in the right place. According to the market rules that the liberal front in the Parliament cites, there can be no private investor to buy a company with 800million euros in debt, no wealth but many claims worth several million; unless Jesus Christ comes to buy it.”
On the examples of Attica Metro and the Buildings Infrastructures SA, Spirtzis underlined that no state-run enterprise with such debt can be privatized.
Tsakalotos: “Privatization super fund does not mean state-run companies will all be sold off. As long as I am Minister and SYRIZA in the government no water company will be privatized.”
Skourletis: “Let me clarify something: Do not take for granted this propaganda claim coming from the opposition that the transfer to the superfund means privatization.”
I think, I got the point:because of their debts no investor will have interest to buy the state-run companies and therefore they will stand at the shelves of the Superfund as cute and decorative knickknacks.
However, according to the lenders’ and government plans, aims and targets, only part of these enterprises is to be privatized
Public Power Corporation (DEH) at 34%
Athens Water and Sewage Company (EYDAP) at 50%
Thessaloniki Water and Sewerage Company (EYATH) at 51%
The Hellenic Vehicle Industry (ELBO), the Attika Metro and Buildings’ Infrastructures SA.
Saving indebted Greek state-run companies
PS Why should Jesus Christ have interest to buy Greek indebted utility companies?
“Apparently, the three ministers think that no investor would buy the state-run enterprises because of their debts.”
The usual BS from our ministers. I’m sure they probably have already been told that either the state will have to shoulder the debt burden of these enterprises so that they are sold debt-free to private investors OR the enterprises will be broken into pieces and the private investors will only buy the debt-free pieces saddling the Greek tax payers with the debt.
And of course Tsakalotos and Skourletis never lie :((
they talk politics …