Can Privatization Save the Treasures of Ancient Greece?

Greece

TIME

By Charlotte McDonald-Gibson/Ancient Nemea Jan. 18, 2014

In the wake of government austerity, some closest to Greece's treasures are advocating turning them over to private companies

Many objects dug from the earth or drawn from the legends of Nemea could be used to promote the ancient Greek site: the mythological Nemean Lion slain by Hercules in the first of his seven feats; weights lifted by competitors during its ancient athletics; the bronze statue of the baby Opheltes, whose death is said to have inspired the games which rivaled those at Olympia further west.

Greece nominates new privatization agency chief, third in seven months

ATHENS | Sat Sep 28, 2013 9:36am EDT

(Reuters) - Greece has nominated a new chairman to take over at its privatization agency after the dismissal of its previous head last month, the finance ministry said on Saturday.

Constantine Maniatopoulos was named to head privatization agency HRADF, where asset sale delays and shortfalls in targeted revenues have been a source of headaches for Greece's international lenders overseeing the country's 240 billion euro bailout program.

Greece Needs a 21st Century Marshall Plan

By Dimitri B. Papadimitriou Aug 12, 2013 1:00 AM GMT+0300

At their White House meeting last week, U.S. President Barack Obama assured Greek Prime Minister Antonis Samaras of his support as Greece prepares for talks with creditors on additional debt relief amid record-high unemployment.

The IMF's blunt assessment

Aug 1st 2013, 14:09 by K.H. | ATHENS

Charlemagne

European politics

The Economist

WITH Greece enjoying the best year for tourism since its six-year recession began, it has become easier to believe in official forecasts of a mild recovery next year. But the green shoots of optimism may soon fade if European leaders are unwilling to plug a widening gap in bailout funding for Athens over the next two years and help make its debt burden sustainable by writing off a chunk of bail-out loans.

UPDATE 1-IMF approves $2.3 billion aid for Greece

Mon Jul 29, 2013 4:40pm EDT

(Reuters) - The International Monetary Fund on Monday approved a further 1.7 billion euros ($2.3 billion) in funds for Greece's bailout program after completing the fourth review of the cash-strapped euro zone state.

Greece last week adopted the last piece of legislation its international lenders required to release the next batch of rescue loans, after two months of wrangling over unpopular measures to overhaul the economy. The total funds from the IMF, the European Commission and the European Central Bank comprise 5.8 billion euros.

Greece privatisation: Myth or reality?

BBC

15 July 2013 Last updated at 23:17 GMT

By Nigel Cassidy

Business correspondent, BBC News, Athens

Visit any one of the Greek state's Opap betting shops and it's pretty hard to fathom quite what is going on.

Groups of mainly men who can probably ill afford the price of a lottery ticket sit around staring at electronic screens showing grids of random figures, all hoping against hope that their numbers will come up.

It's a fine metaphor for Greece's wider - and so far wildly unsuccessful - drive to raise billions of euros to help offset the country's punishing debt repayments.

UPDATE 2-Greece picks Eurobank to buy Postbank ahead of mid-July deadline

Sat Jul 13, 2013 7:29pm EDT

By George Georgiopoulos

(Reuters) - Greece's bank rescue fund picked Eurobank to buy New Hellenic Postbank as part of consolidation in the sector and to meet a condition for the next tranche of Greece's bailout, it said after a board meeting on Saturday.

Greece’s government: Up, but not out

Greece has performed better than expected, but still has much to do

May 25th 2013 | ATHENS

The Economist

WHAT a difference a year makes. Last May Greece seemed to be heading out of the euro. Lagging reforms, political in-fighting and violent protests had worn out creditors’ patience. An election failed to produce a clear winner. Athenians stashed euros in safety-deposit boxes and under mattresses amid fears of instability and a chaotic return to the drachma.

UPDATE 1-Gazprom pushes for concessions in sale of Greece's DEPA

Tue May 21, 2013 2:28pm EDT

* Binding bids for DEPA due May 29

* Sintez, SOCAR to bid for DEPA's gas grid unit DESFA (Adds meeting between Gazprom chief and Greek Prime Minister)

By Harry Papachristou

ATHENS, May 21 (Reuters) - Gazprom is squeezing Athens for better terms to buy DEPA, Greece's sole retail gas distributor, a Greek official said, as the Russian gas export monopoly leverages its position as the only major player in the running.

Samaras Seeks China Investment to Revive Battered Greek Economy

By Bloomberg News - May 17, 2013

Greek Prime Minister Antonis Samaras promised to give the “red-carpet treatment” to foreign investors as he visited China to help revive an economy that contracted for the 19th straight quarter.

Greek privatisation chief quits after graft charges filed

ATHENS, March 9 | Sat Mar 9, 2013 1:00pm EST

(Reuters) - Greece's privatisation chief and a senior finance ministry official resigned on Saturday after they were charged with breach of duty over their former role as board members of a state utility.

UPDATE 2-Greece's betting monopoly sees plunge in profit

Fri Feb 22, 2013 9:41am EST

* OPAP sees 2013 net profit down by more than two thirds

* Estimate lower than analyst forecasts

* Greece seeking to sell 33 percent stake in OPAP

* Shares down 4 pct (Updates with analyst quote, background, shares)

By Angeliki Koutantou

Qatar Said to Discuss Purchase of Resort From Greek State

By Sharon Smyth on February 21, 2013

Bloomberg business week

Greece has held talks with Qatar over the sale of the Astir Palace in a deal that would mark the first outright sale of a property in the country through the government’s 50 billion-euro ($67 billion) asset disposal program, according to three people with knowledge of the matter.

Greece prepares second wave of privatizations

(Reuters) - Greece plans to launch tenders to sell or lease a string of state assets, including its biggest refiner and two largest ports, as it battles to pay down debt and meet the terms of an international bailout.