Greece has been worried about how they are going to finance their debts. Therefore, Greece has been trying to rebuild its economy to pay off creditors. Creditors are pushing for more privatization. Greece's energy minister does not want privatization in energy, which includes, public gas, state controlled electricity, oil and the power grid. However, stakes in these companies had already been promised to private bidders. “The Greek economic plan approved by eurozone finance ministers…promised not to roll back any privatization project already in the works.”
3 comments:
The Greece energy official opposed to privatization will probably have little effect on the actual actions of the government. Greece has already agreed to continue all privatization projects currently running, including the privatization of energy. I find it doubtful that the privatization of their energy sector will improve its efficiency at all (it didn't in Britain with Thatcherism), but the country must continue to do so anyways.
I generally oppose privatization of energy resources like electricity. It leads to a much higher level of inaccessibility for the consumers, given it's such a basic and essential need. But all being said and done, i'd rather see Greece undergoes some change than staying the same
Because Greece already promised things to private bidders, they must continue and see the privatization through. I personally think that the privatization of energy, and other companies will do nothing but help Greece. I believe that privatization helps countries receive more money and, in this case, I feel as though it will help Greece decrease their deficit.
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