Stathakis puts forward ideas on energy firm privatizations

TAGS: Energy, Privatizations, Finance

The representatives of Greece’s creditors returned to Athens on Monday for the start of the fourth bailout review and had their first meeting with Energy Minister Giorgos Stathakis and Finance Ministry officials. The aim of the creditors and the government is to have the review wrapped up by May, and for the deal on the Greek debt to be completed by June.

The lenders and Stathakis discussed the energy issues to be included in the fourth review, examining the prior actions that will likely generate problems in the process.

Kathimerini understands that Stathakis presented alternative scenarios regarding the privatizations of Hellenic Petroleum and Public Gas Corporation – i.e. the issue of a corporate bond convertible into shares, like the model agreed for Public Power Corporation. However, this has been opposed by Finance Minister Euclid Tsakalotos as it would lead to an increase in the national debt.

The review’s thorny prior actions will be the focus of all of the creditors’ contacts in Athens this week, which will continue on Tuesday and culminate on Wednesday, when their program will be particularly heavy, before concluding this first round of talks on Thursday.