Deal to settle EYDAP debts

The government has settled on a formula that will see it settle its debts to the Athens Water and Sewage Company (EYDAP) by paying 400 million euros ahead of efforts to privatize the firm.

The deal will see the government write off some of EYDAP’s debts to the state in return for the company also forgoing some of the money it is owed by the public sector. This will leave a bill of 400 million euros to settle but unionists say that the company is actually owed more than a billion euros.

“This is the perfect crime,” said the head of the EYDAP workers’ union, Vangelis Dimoudis, who claims that EYDAP is owed 1.07 billion euros. The union is opposed to the sell-off and argues that water privatizations in other parts of Europe have failed.

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