Greece is to privatise €50bn of state assets in an effort to fund its latest austerity plan.
According to the BBC, Prime Minister George Papandreou's office has released a document revealing the planned sale of government stakes in a range of companies in order to raise the cash necessary to meet terms agreed with the EU. The document says government holdings in the utility power company PPC, the telecom operator OTE and ATEbank will be sold off by 2015. Greece is looking at a variety of solutions to prevent it renegotiating its debt. Yesterday the yield on its debt soared after the German finance minister said Greece may have to renegotiate its debt burden. However, go...
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