The Wall Street Journal

New Call to Greece to Sell Off Its Assets
The Wall Street Journal

Luxembourg Prime Minister Jean-Claude Juncker said that Greece should set up an agency to privatize state assets along the lines of the German institution that sold off East German enterprises in the 1990s.

« I would very much welcome it if our Greek friends would set up a state-privatization agency after the model of the German Treuhandanstalt, » Mr. Juncker said in an interview with Germany’s Der Spiegel magazine set to run Monday.

Mr. Juncker, who is also chairman of the Eurogroup of euro-zone finance ministers, said such an agency should include foreign experts among its staff.

« The European Union will accompany the privatization program as closely as if it were carrying it out itself, » Mr. Juncker told the magazine, adding that Greece could gain more from privatizations than the €50 billion ($71 billion) it has estimated.