uation of the progress of the bailout programme. It
is currently estimated that privatisation revenues
will exceed 2 billion euros in 2016, mainly through
the concession of 14 regional airports, and the
sales of the Voulagmeni Astir Palace hotel and
the Piraeus Port Authority (OLP).
2015
The tenders conducted in 2015 concerned:
• The Horse Racing Organisation of Greece
(ODIE)
• The Xenia Skiathos hotel
• The Kassiopi property in Corfu
• The Paliouri property in Chalkidiki
• The Aghios Ioannis property
• The sale and leaseback of selected public
properties
• The sale of selected buildings abroad
Agreements concerning tenders launched in pre-
vious years were signed during the year.
E
specially in recent years, when the state
seeks to ensure the optimum utilisation of
its assets amidst a crisis.
The provisions of Memorandum III
In accordance with last summer’s agreement with
the European Union and the International Monetary
Fund on the third bailout package, the Greek gov-
ernment pledged to complete 11 privatisation sales,
in order to generate revenues of 6.4 billion euros in
the period 2015-2018, including the sale of a stake
in Hellenic Telecommunications Organisation
(OTE) and the concession of the Egnatia Motorway.
Now the government is seeking the lenders’
approval in order to move this target forward by
one year, since it was not possible to generate the
1.4 billion euros in privatisation revenues budget-
ed for 2015. So, as HRADF (Hellenic Republic
Asset Development Fund) officials claim, the pro-
gramme has to be expanded, and this must be
also confirmed through the agreement on the eval-
Trade with Greece
28
Privatisations
show the way
for Greece’s
modernisation
Privatisation has probably been
the most contentious issue in
Greece’s political scene.
By Nectarios V. Notis
