Greece's privatisation programme to raise funds to pay off its debt has moved to the top of the agenda, Greek Prime Minister George Papandreou said in an Italian newspaper interview
on Saturday.In Corriere della Sera, Papandreou listed measures already taken to improve the country's public finances, including public sector cuts and economic liberalisation and said he is readying a robust privatisation plan.
"At the start, privatisations were not a priority. Now they are top of the agenda. We will demonstrate that we are able to honour our debt servicing with a series of development projects," he said in the interview.
"There is wide consensus on our plan, also from the opposition and in public opinion. We will approve it soon," he said speaking to the paper in Oslo.
Greece will not default on its debt nor will it leave the euro zone, he said.
The plan to restore Greece's finances had foreseen a return to fund-raising on financial markets from 2012 but some say the climate and wide bonds spreads will make this impossible and Greece will need further help, he said.
"I hope this will not happen, that we can go on the market at least partially, seen that in 2012 we will have some additional reserves. We see, it is not for us to decide how the markets will react," he told the paper
Some countries have said Greece should offer some collateral for loans it raises, he said, adding it is not clear what this means in practice.
"I want to add one thing on which we are very sensitive: to ask us for an island or a monument as a guarantee is nearly an insult. The people expect our word and our actions are a sufficient guarantee," he said.
Papandreou said Greece is ready to support Bank of Italy governor Mario Draghi to be next president of the European Central Bank, he said.
REUTERS
