Friday August 29, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Coalition partners reach consensus on PPC

Top officials from both parties in the coalition government on Monday reached a compromise on plans to part-privatize the Public Power Corporation (PPC), heading off a burgeoning mini-crisis over the measure, one of a list of so-called prior actions demanded by the troika.

A bill outlining the reform foresees about a third of PPC’s production capacity and clientele splitting away to form a smaller rival company that will be sold to a private investor.

The legislation, which had been opposed by several PASOK deputies in regions where large power plants are located, had been due for submission in Parliament this week but is likely to be presented to MPs next week as Prime Minister Antonis Samaras and other government officials have obligations outside Greece, sources said on Monday.

According to sources, the legislation that will be submitted to the House includes concessions to both employees, who will have their work contracts guaranteed for five years, and local residents, who will be prioritized in any recruitment drives. As for the procedure of selling the “small PPC” – as the rival firm has been dubbed – it will be overseen by the corporation itself and not by TAIPED, the country’s privatization fund.

The streamlining of the country’s biggest electrical power company is one of 12 prior actions that Greece must implement over the summer to secure two loan tranches worth 2 billion euros from international lenders.

Six of the 12 measures must be enforced by the end of next month, with the PPC overhaul in the second list of six.

Of the first six prior actions, two have been adopted already – a new law governing street markets and new zoning legislation. A list of third-party taxes is being revised. A code of conduct for MPs and ministers, which is aimed at curbing corruption, has yet to be finalized. And the Finance and Justice ministries are working on on an action plan for the collection of billions of euros in outstanding debts to the state.

ekathimerini.com , Monday June 23, 2014 (20:47)  
Exam results spell trouble for some universities
Police names suspects in 400,000-euro heist
Rector takeover marred by protest
Greek PM reaches out to foreign officials ahead of crucial EU summit, troika talks
Foreclosures threat pushed back
An agreed foreclosure protection period currently granted to first-home buyers unable to settle overdue tax amounts will be conditionally extended beyond the end of the current year, when it...
Athens rental rates tumble
Reflecting the overall shrunken state of the Greek economy, rents for small, aging Athenian apartments of up to 60 square meters have fallen by a total of 50 percent since the recession star...
Inside Business
SOCCER
Panathinaikos, PAOK and Asteras Tripolis through to Europa League group stage
There was a triple success for Greek soccer on Thursday as PAOK, Panathinaikos and Asteras Tripolis made it through to the Europa League group stage. PAOK had a challenging task after a 1-0 ...
SOCCER
Olympiakos drawn against Spanish, Italian and Swedish champions in CL
Olympiakos will face the champions of Spain, Italy and Sweden in the group stages of Europe's top soccer tournament, the Champions League. Thursday's draw in Monaco was not particularly kind...
Inside Sports
COMMENTARY
The Lotus-Eaters
Turkey, a country branded by some as undemocratic and maladjusted by European standards, recently elected a new president – Recep Tayyip Erdogan – in a vote that was transparent and with a c...
EDITORIAL
A good start for culture
It took decades for a decision as obvious as keeping Greece’s most popular museums and archaeological sites open all day and all week to be reached and acted on, and now we are beginning to ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panathinaikos, PAOK and Asteras Tripolis through to Europa League group stage
2. Foreclosures threat pushed back
3. Exam results spell trouble for some universities
4. Police names suspects in 400,000-euro heist
5. Athens rental rates tumble
6. Transforming OPAP buys top-up firm
more news
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. Hardouvelis, ECB executive discuss bank program, stress tests
3. Greece to relaunch tender for mutual horesebetting license
4. Venizelos invites Simitis and Papandreou to PASOK 40th anniversary event
5. Bad debt provisions hit Greece's PPC first half net profit
6. EU's Frontex to take lead from Italy in Mediterranean immigration crisis
Today
This Week
1. Brussels warns Greece over plans to allow construction near Korinos beach
2. Merkel cites euro’s ‘construction flaws’ as economy sputters
3. Attack on gay couple in Athens leaves one man needing surgery
4. Purification rituals
5. Second man held over double murder in Mani
6. The battle against progress
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.