Changes at state property agencies


The government is determined to change the heads of the state property manager, the Hellenic Corporation of Assets and Participations (HCAP), and its subsidiary, the Hellenic Republic Asset Development Fund (TAIPED), charged with attracting foreign investors in the privatization of some of those property assets, over their handling of the privatizations and the dismal financial situation at electricity company Public Power Corporation, in which HCAP and TAIPED together hold a 51 percent share.

But changes may not happen immediately, partly due to the reluctance of Klaus Regling, head of the European Stability Mechanism, who would not like changes to be made so soon after the election.

The ESM and the European Commission appoint a member each to HCAP’s five-member Supervisory Board.