Europe’s Vindictive Privatization Plan for Greece
Eurozone leaders are demanding that Greek public assets be transferred to a Treuhand-like fund – a fire-sale vehicle similar to the one used after the fall of the Berlin Wall to privatize all of the vanishing East German state’s public property. The plan should be a stigma on Europe’s conscience; worse, it is a wasted opportunity.
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ATHENS – On July 12, the summit of eurozone leaders dictated its terms of surrender to Greek Prime Minister Alexis Tsipras, who, terrified by the alternatives, accepted all of them. One of those terms concerned the disposition of Greece’s remaining public assets.