Greece to ask creditors to lower 2013 privatization target, says source

Greece will ask its international creditors to lower this year’s privatization target after it failed to find a buyer for the state-run natural gas firm DEPA, a senior government official said on Tuesday.

“It is very difficult to cover the 1 billion euros we expected to raise from DEPA,” the official told Reuters on condition of anonymity. “We will ask the creditors to push back those receipts in 2014.”

Under the terms of its EU/IMF bailout, Athens had a binding target to raise at least 1.8 billion euros from privatization revenues by the end of September and an indicative one to raise at least 2.5 billion euros by the end of this year. [Reuters]