Frenchman to be appointed at sell-off fund

Frenchman to be appointed at sell-off fund

The European official who is to head the new monitoring group of Greece’s privatizations hyperfund has been selected but there is no decision yet on the three officials being proposed by Athens.

Kathimerini understands that the government and its creditors have agreed on the appointment of France’s Jacques Le Pape – former right-hand man of Christine Lagarde during her stint at the French Finance Ministry – as the head of the new fund’s Supervisory Board.

A French official is seen as a more “diplomatic” solution for the government than a German or Dutch, while the Greek fund has been set up according to the system of its French equivalent. Another board member, also a non-Greek European as the law dictates, will be from Spain.

The official announcement of Le Pape’s appointment is being delayed as the creditors have voiced strong reservations about the three Greeks being proposed by Finance Minister Euclid Tsakalotos for members of the board. The Supervisory Board will choose the fund’s directors.

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