any actual decisions, but merely issuing state-
ments saying that the second stage of this or that
procedure is in due course. The problem is that
nothing is being done.
The same thing happens whenever the Asset
Development Fund’s management meets with the
Minister of Finance: announcements regarding
the speeding up of procedures, and nothing
more.
In any case, though, even now is not too late.
Given that the procedures regarding OPAP and
DEPA will have to be completed by the end of
March, the government has, even now, the oppor-
tunity to conclude at least one major deal, and fur-
ther improve its reliability in the eyes of the inter-
national investment community.
Liquidity: another major bet
Apart from all this, though, the greatest concern
of the market, the businesses and, by extension,
the workers, is liquidity. In fact, following the dis-
bursement of the mammoth tranche, the state
has already started to pay off –even a small– part
of its debts to the private sector. Out of total state
arrears of
€
9.3 billion, the amounts that have
been paid do not exceed
€
1 billion, the aim being
to repay
€
3-3.5 billion in 2013. It is obvious that
this does not in any way solve the problem of the
businesses’ liquidity; however, it is a good start, in
order to help both individuals, and legal entities,
to do business, or just plug some holes in their
finances. Indeed, considering that the Greek state
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