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The formation of the joint committee, which determined the state-owned enterprises for sale, particularly shaped the privatization program of the government. All possible scenarios for reform of the banking system in the country are being considered so as to shape a stable base for the financial institutions in the country. The government is still in negotiations with the three financial consultants who will help it to build the privatization strategy and will evaluate the state-owned enterprises for sale (banks, public companies, airports and ports). The Minister Finance George Papakonstantinou announced that the names of the consulting companies will be known in about a week, after signing the cooperation agreements.

At the same time, the executive management of Piraeus Bank, which declared its interest to buy the state Agricultural and Postbank last week, announced Goldman Sachs as the financial consultant on the transaction. Although the stress tests results of 91 European banks will be clear after 7 pm (Greek time), the economic analysts of the Greek Katemerini newspaper predicted that the Agricultural Bank ATEbank will not pass the test and most likely will be the one of the first companies offered for sale. Six Greek banks are tested how they would manage the financial pressures of the economic crisis in the country. According to the Greek press releases two of them are on the verge to pass. The opinion of CNN economists is that the Greek banks lack around € 8.6 billion to be able to pass the difficult economic times in the near future.

The joint committee should choose legal and financial advisors. They will examine and prepare a strategic plan for the reform of the banking system in the country and will help to extend the legislative framework for the planned privatizations. The public companies that will be offered for sale together with Agricultural and Postbank are the water supply companies in the country EIDAP, the state gaming company OPAP, the nine Greek publicly owned casinos, the Athens Airport Eleferos Venizelos and the ten ports of Greece.

The ministerial members of the committee are the Minister of Finance George Papakonstantinou, the Minister of Economy, Development and Merchant Marine Louka Katseli, the Minister of Environment, Energy and Climate Change Tina Birbili, the Minister of Transport and Infrastructure Dimitris Repas and the Minister of Culture and Tourism Pavlos Geroulanos.

The Ministry of Finance announced a second joint committee of Chief Secretaries is being formed. The committee will be engaged in the use of public property, which will be fully described and evaluated. Then the government will decide which of the real estates will be sold or rented.