Greece public sector sell-off

has outlined plans to part-privatise a number of publicly-owned companies in an
effort to raise funds to boost government finances.

government plans to sell minority stakes in its state-owned rail company, the
postal service and in two water companies.

plans form part of the Greece’s austerity measures, designed to cut borrowing
and reduce its debts.

plan is expected to raise at least 1.2 billion a year.

plans include selling 49 per cent of its rail company OSE, which is currently
making a loss, while 39 per cent of the state postal service will also be sold.

government will also sell stakes in regional water companies EYATH and EYDAP of
23 per cent and 10 per cent respectively.

revenue will be raised through extending the monopoly of the state’s gambling
firm, and extending its regulation of online betting.

the plans, Greece’s finance minister George Papaconstantinou said the aim was
to protect public services but in a more sustainable manner.

part privatisation of parts of the Greek public sector was agreed as part of a
massive bail-out plan by the EU and the International Monetary Fund earlier
this year.

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