Greece privatization program

The privatization of Greek assets offer some serious investment opportunities, according to the CEO of Lamda Development, which specializes in Greek real estate, who told CNBC that foreign investors just need more confidence.

Athanasiou stressed that the "prime thing" was for Greece to become "more extrovert" in its relationship with investors. The bailout program demanded that Greece make further cuts to public spending, overhaul its pensions, labor market and taxation system and implement a privatization program of Greek assets, such as its airports and ports. Any initial government reluctance to privatize public assets seems to have dissipated, not least because Greece has such a steep hill to climb to get its debt-ridden economy back on track.

Greek News. All Archaeology Art Charity Crime. Why is the U. Pulling the Plug on the EastMed Pipeline? January 13, Government Proceeds with Privatization Program.

December 15, There were several stumbling blocks delaying the sale of the port, which is one of the largest Greek seaports and based in the north of the country. In October, for example, the preferred bidder — the consortium of Deutsche Invest Equity Partners, Belterra Investments and Terminal Link — hadn't yet presented to the Greek authorities the company that would be managing the port. As a result, the Greek State Audit Council couldn't approve the deal.

The sale, which was supposed to be finished in , only concluded last month. The deal was worth 1. In total, the bailout program includes 19 privatizations.

These include the sale of 10 port authorities, real estate assets, the Hellenic Post and the Athens water supply, to name just a few. According to Kyriakopoulou, privatizations are "key" to conclude the program, but they are "not a make-it-or-break-it issue" to determine a clean exit.

The Greek government does not want any extra financial help or surveillance after August — in what they describe as a "clean exit. However, several policymakers and analysts believe that Greece should consider extra help from abroad to avoid suffering from market turbulence, which would raise its borrowing costs.

The redevelopment of the site of the former airport of Athens, Hellinikon, has faced several impediments, including forestry and archaeological issues. Greece has to close the transaction before June, in about two months' time. According to a report following the third bailout program review, these are the main actions Greece needs to take before June:.