ECONOMY

Plummeting state stocks devalue measures

Reactions aside, the decline of state-owned stocks such as Thessaloniki Water Company EYATH, ATEbank, Hellenic Postbank, etc means that the revenues the government would reap from privatizations in its Midterm Fiscal Stability Program would not exceed 3 billion euros for the 2012-2015 period.

The government has instead aimed at privatizations to the amount of 50 billion euros by 2015.

The Athens bourse has lost more than 12 billion euros of its capitalization since February 18.