BERLIN (Reuters) – Greece faces severe restrictions on its sovereignty and must privatise state assets on a scale similar to the sell off of East German firms in the 1990s after communism fell, Eurogroup chairman Jean-Claude Juncker said.
In an interview published after euro zone finance ministers in the Eurogroup approved a further 12 billion euro instalment of Greece’s bailout, Juncker said he was optimistic that measures agreed with Athens would help to resolve the country’s problems.
“The sovereignty of Greece will be massively limited,” he told Germany’s Focus magazine in the interview released on Sunday, adding that teams of experts from around the euro zone would heading to Greece.
“For the forthcoming wave of privatisations they will need, for example, a solution based on a model of Germany’s ‘Treuhand agency’,” Juncker added, referring to the privatisation agency that sold off 14,000 East German firms between 1990 and 1994.
The Greek parliament voted on Thursday to set up a privatisation agency under austerity plans agreed with the European Union and IMF which have provoked violent protests on the streets of Athens.
Greeks are acutely sensitive to any infringement of their sovereignty or suggestions of foreign “commissars” getting involved in running the country.
Read more at: http://uk.news.yahoo.com/greek-sovereignty-massively-limited-juncker-121033565.html
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