Privatisation is no salvation

Protests continue in Greece as its leaders debate the latest suggestions for dealing with its crippling debt. One proposal is for Greece to privatise several of its assets. This column argues that privatisation is a mirage. If solvency is the problem, privatisation will only make matters worse, especially if it has to be done at distressed prices.

Large-scale sales of public assets by the Greek government are the latest straw to which policymakers are trying to clutch, as the Greek debt saga threatens to drag down the European economy. However, privatisation is a mirage.

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Daniel Gros

Vox