Greece, A Country for Sale! Global Capitalism's Wet Dream at Work.

Adrian Boutureira
St Helena News
July 22, 2012


According to the latest detailed plans presented by the Greek government, the first operation in liquidating the nation's public assets is expected to continue this year with the sale of the national lottery. Following will be the gas company (of which the State owns 65%), oil (35%), mining (approximately 95% between direct and indirect assets), postal services (93%) weapons fabrication (100%), state factories and vehicles (81%) and the Mont Parnes Casino.

In addition, electricity is expected to sell (51%) and water companies in major cities Athens (61%) and Thessaloniki (74%).

This latest chapter of the plan also added infrastructure to the big giveaway; the main highways and motorways, airports, including the new Athens airport (55%), shipping ports (large and small), and railways (100%), both the tracks as well as the transporting company.

 In short, an "ambitious modernization plan," according to the Government, or the total dismantling of the public sector, according to unions and the vast majority of the Greek people.

Once national public assets are sold, they are incredibly difficult to recover. Privatization of key basic services have historically also led to huge rate increases for consumers. Once privatized, a utility or public service is meant to generate a profit not merely serve the population, so privatization often comes with some sort of open or tacit guarantee form the state to deregulate the service as well...profits before people.

Jobs at Risk

Adding insult to injury, or should I say, injury on top of injury, the ruling neoliberal Greek government of Andonis Samatra is committed to eliminating 150,000 jobs by 2015, a plan that includes closings and mergers of public companies and other public institutions. With a population of just under five million people and an unemployment rate currently at 22%, the loss of an additional 150,000 jobs will have dramatic consequences for a population that has already been impoverished from two years of austerity and spending cuts.

Privatization had already been approved by previous governments, but Andonis Samaras offered the European Union to "accelerate" the pace.

The new prime minister went further and said he would undertake, "not only privatizations that are part of the rescue plan, but many more." "Our goal is not making money, but to attract investment".

However, in a note made public by the fund which manages the privatization process, it said that the aim was "to get 19,000 million euro by 2015 with the sole purpose of reducing the Greek debt".

This fund was created a year ago by the Pasok government as a corporation (HRADF). The State has given HRADF control of all the nation's patrimony. The fund managers were appointed by Parliament, but now have full authority to manage all sales of public assets. 



Yes, global bankers want their loan shark money and the capitalist controlled Greek government is willing to sell out the country's future and sovereignty to give it to them. If the global capital experiment in completely dismantling and privatizing the Greek state succeeds, expect the same formula to be swiftly applied elsewhere across other compromised economies across Europe, and soon enough after that maybe even to a town near you...Roads, water, schools, electricity, public transportation, Barton Springs...The sky is the limit, and they will sell that too if they can.