Greece finally starts to sell off its assets

This week has seen the announcement that the Greek government is to sell the operating rights of 14 of its airports to German company Fraport AG. This is a U-turn by Greek Prime Minister Alexis Tsipras on pledges he made when seeking election that he would not sell off Greece’s assets. Unfortunately given the ongoing debt crisis and negotiations around the third EU bailout, it’s not surprising that Mr Tsipras appears to be making some concessions to his EU neighbours’ requests. Other Greek assets that appear to be open for suitable offers include the Public Gas Corporation of Greece and Hellenic Railways Organisation (the Greek national railway operator).  What I would imagine may be difficult for many Greek citizens to come to terms with is who ends up owning their national assets. Given the large majority of Greek citizens voted to reject the EU’s bailout terms, a German purchaser of their airports may not be well received! Looking at it subjectively, as someone who has travelled through Greek airports and also Frankfurt airport (which Fraport operates) on numerous occasions, I know where I had the better experience!!