The European Union has not asked to play a major role in planned Greek asset sales and is only offering its expertise, Greek Finance Minister George Papaconstantinou said on Saturday.
Debt-ridden Greece is setting up a sovereign wealth fund to pool real estate assets and state stakes in companies such as telecom company OTE (OTEr.AT), Post Savings Bank (GPSr.AT) and ports in a bid to raise 50 billion euros by 2015 to help end a debt crisis.
It has already mandated several investment banks with planned sales but bankers working on the deals said last week that the austerity-hit nation stood a better chance of success if Europe and the IMF were directly involved in the process.
"I want to make clear that they have not asked such a thing," Papaconstantinou told Mega TV. "They have not asked that this firm be subject to another country's law...they have not asked that it be run by foreigners."
Papaconstantinou said the EU had only suggested that other countries with previous experience in privatisations offer their expertise to Greece.
"They have asked and we absolutely agree that other countries which have done a similar job offer their support and know-how," he said. "We will see whether this will be translated with some experts or some people on the board."
Top EU officials have asked Greece to step up privatisations urgently and suggested setting up a trustee institution to help the process, similar to the body that privatised East German companies after the fall of communism.
Papaconstantinou's comments came a day after Prime Minister George Papandreou failed to get opposition party leaders to back tougher austerity measures to free up EU/IMF aid needed to avoid a debt default.
REUTERS
