head of greek privatisation fund resigns
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Head of Greek privatisation fund resigns

Arab Today, arab today

Arab Today, arab today Head of Greek privatisation fund resigns

Athens - AFP

The chief executive of Greece's privatisation fund has resigned, his office said on Friday, citing a lack of government support, planning delays and forecasting paltry asset sales this year. "Without the government's unreserved support it is clearly impossible to rapidly carry out the privatisation programme," the outgoing executive, Costas Mitropoulos, said in a resignation letter to the finance ministry. Mitropoulos said the new conservative-led government had "systematically" undermined the fund's credibility with investors instead of helping clear up bureaucratic hurdles, making his position untenable. He also noted that the administration had failed to appoint a replacement to fund chairman Ioannis Koukiadis who resigned last month. In eleven months of operation, the fund had managed to conclude four privatisations worth 1.8 billion euros ($2.2 billion) compared to an overall five-year target of 28 projects worth 19 billion euros, Mitropoulos said. This was scaled down from an original overall target of 50 billion euros. This year's revenue target was 3.0 billion but the former Eurobank executive warned that asset sales are "unlikely to exceed 300 million in 2012" and that the programme was at least three months behind schedule. The resignation is the third to hit the one-month government, after the junior ministers for labour and shipping also stepped down. Prime Minister Antonis Samaras' first choice for finance minister also turned down the post due to illness. The government has yet to comment on Mitropoulos' departure, which comes amid Greek efforts to redouble the privatisation drive in order to appease EU-IMF creditors growing impatient with the country's reform delays. The European Union and International Monetary Fund, which have provided hundreds of billions of euros in loans to keep the country's economy going for two years, expect Greece to fulfil its privatisation goals. After his election in June, centre-right Samaras pledged to speed up the privatisation process, while Finance Minister Yannis Stournaras said he would implement policies to attract investors. But in early July, Mitropoulos warned the Greek government that too much time had been "wasted" in getting the programme going. The fund had earlier said that the revised goal of raising 19 billion euros ($23 billion) by 2015 is feasible as long as demand holds up. The state-run Athens News Agency recently said however that only two privatisation projects could be completed by the end of the year: that of the national lottery and the former Olympic international press centre (IBC).

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

head of greek privatisation fund resigns head of greek privatisation fund resigns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

head of greek privatisation fund resigns head of greek privatisation fund resigns

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday