The Greek government has announced it is to begin selling stakes in a number of domestic corporations in order to raise money to help reduce its huge debts .
The government plans to sell domestic assets such as the state-owned Postbank, the telecoms firm OTE, and the ports of Athens and Thessaloniki.
Greek Finance Minister George Papaconstantinou, said: "The cabinet decided to proceed immediately with the sale of stakes in OTE, the Postbank, the Athens and Thessaloniki ports and the Thessaloniki water company in order to front-load its ambitious privatization program."
"To accelerate the process, the creation of a sovereign wealth fund composed of privatization and real-estate assets was also decided."
He added that his government was keen on accelerating plans to tackle the country’s debt problem .
Stock markets across Europe fell yesterday, partly due to continuing fears about a possible debt restructuring in Greece . Weak eurozone economic data also hit investor sentiment.
Greece Looking To Cut Debs By Selling Domestic Assets
Tue, 24 May 2011
Recommended links
Debt solutionsFree debt help enquiry
Debt facts and information
Debt advice and guidance
Debt stress support
Debt management tools
Debt to income calculator
Practical debt test
Debt Repayments Taking Up 10 Per Cent Of Family Income
Church Members Offer Debt Advice To Colchester Residents
Debt Problems Affecting 55,000 Young Brits
Debt Charities Top Choice For Financial Advice
Debt Problems Behind Soaring Demand For Antidepressants
Government borrowing down but debt still on course to reach GBP1 trillion
| news |
|---|
| Male underemployment may spark debt fears - Wed, 16 May 2012 |
| Debt concerns delaying family plans - Mon, 14 May 2012 |
| Recession adding to UK debt numbers - Wed, 09 May 2012 |
| More News |
