ECONOMY

Greek gov’t legally allowed to change ongoing privatization terms, Varoufakis says

Greece will not cancel privatizations that have already been done but the law allows the government to change the terms of sales that are underway and examine their legality, Finance Minister Yanis Varoufakis said on Wednesday.

Earlier, Energy Minister Panagiotis Lafazanis said Greece would not go ahead with privatizing its dominant electricity utility PPC or power grid operator ADMIE, despite promising its creditors not to halt sales that are underway.

“We will not change the privatizations that have already been done,” Varoufakis he told Real FM radio.

“With the privatizations that are ongoing, the Greek government can implement the law and change some terms, and also examine the legality.” [Reuters]