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New Greek FM outlines privatization plans

07-08-2012 08:06 BJT

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Greece’s new finance minister on Saturday has outlined the coalition government's plans for the privatization of state assets. The plans were part of the government's efforts to tackle the country’s deep recession.

In his first policy speech since taking office, respected economist Yannis Stournaras noted the importance of the privatization program.

Yannis Stournaras, Greek Finance Minister, said, "The privatisation program will greatly contribute to national development, enhance competitiveness and add jobs. It will help change the perception of Greece in the face of international competition and will give new momentum and confidence. "

Yannis Stournaras reiterated the government’s plan to ask lenders for an additional 2 years to implement deficit cutting measures, citing a deeper-than-expected recession.

He warned of a tough road ahead in convincing the so-called troika of the European Union, International Monetary Fund and European Central Bank lenders to give Greece more time and money.

He also warned that negotiations with foreign lenders would be "long and arduous" and that the government would press its case for additional time to carry out austerity measures.

He pledged the government would complete reforms demanded under the bailout, speed up privatizations and boost competitiveness to turn around the recession-hit economy. Stournaras was speaking during a parliamentary debate that began on Friday and ends Sunday in a vote of confidence for the government.


Editor:Zhang Pengfei |Source: CNTV.CN

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