Changes at sell-off agencies

The government merged on Friday the special secretariats for public companies and privatizations at the Finance Ministry. The delay in the sell-off program observed in recent months led to the departure of the special secretary for privatizations, Giorgos Christodoulakis, according to sources.

He resigned last July but is only departing now.

It is believed that the new secretary, Giorgos Kyriakos, has a closer cooperation with the managing director of the State Privatization Fund (TAIPED), Costas Mitropoulos, forming a front that will be key for the government regarding the collection of much-needed revenues.

Already the 3.3-billion-euro revenues target for the first quarter of 2012, which was set at the end of 2011, appears increasingly implausible as a result of the political and economic climate.

Some observers have gone as far as to suggest that the privatizations fund is stalling in order for the country’s political outlook to become clearer first.


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