Greek Parliament Passes Austerity Package

By: Wednesday June 29, 2011 7:51 am

In addition to the austerity measures, Greece is “selling the family silver,” putting airports, ports, railways, motorways, sewage works, national energy companies, banks, and the national lottery up for sale in a privatization push they hope will net 50 billion euros. However, private equity firms turned up their noses at the first offer of sale. Perhaps they’re looking for discounts, or they want to change the rules of hiring and firing even further in an effort to break the unions.

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