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Greece’s economic momentum is slow

19 September 2013 / 16:09:53  GRReporter
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    The Egnatia highway with its heavy international traffic which accounts for more than 50% of its overall traffic, is the next on the list. The objective is to attract investors to provide such services which are typical for the other highways in Greece. Small ports and tourist marinas come next. "Greece is known for them and their infrastructure is lagging behind. There are 34 such ports. This will significantly contribute to the development of tourism. The problem is that they are seasonal; they operate mostly between June and September but, by contrast, over 67% of their traffic comes from abroad, i.e. they are not affected by the Greek crisis. They also need expanding and renovating," added Filippos Alexopoulous. The Privatization Agency has prepared as a final course an extensive portfolio of real estate intended to tempt the foreign investors.
    Dimitris Papadimitriou, professor at the University of Manchester, believes that the privatization should be carried out so as to promote competition rather than to create monopolies. He urged the Greek government to learn from the experience of Eastern Europe where the irregular privatization in some countries has led to the establishment of kleptocracy.
    Konstantinos Antonopoulous, CEO of Intralot, said that, so far, only one offer has been submitted in all privatization deals. "When you have only one offer you can never be sure whether you obtain the best price. Western investors have never wanted to invest in Greece," he said.

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Tags: Privatization in GreeceInvestorsBank lendingLiquidityPortsAirportsEgnatia highway
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