Print Print edition: 2011-05-30

Greeks favour selloffs to end debt crisis

Published Updated

An overwhelming majority of Greeks are in favour of selling and developing state assets to raise 50 billion euros ($71.19 billion) to avoid a default on the country's crippling debt load, a poll found on Sunday.
The Kapa Research poll for To Vima newspaper showed that about 80 percent of respondents agreed Greece should use its assets to help consolidate public finances.
But some 83 percent doubted the government's ability to implement such an ambitious programme and said Prime Minister George Papandreou should take over the scheme.
About 48 percent said Greece's first priority should be boosting growth, 38 percent suggested proceeds from assets sales should be used to kick start the economy and 35 percent said the money should be used to help pay down its towering debt.
European Union officials have asked Athens to step up privatisation's urgently and suggested setting up a trustee institution to help oversee the process, similar to the body that privatised East German companies after the fall of communism.
First in line for privatisation will be divestments in Savings Post Bank, OTE Telecom and the country's two biggest ports.
A second wave next year will include an up to 34 percent stake in gaming firm OPAP and an up to 17 percent of Public Power Corp (PPC).