Dijsselbloem: 50 bln privatisation fund will be based in Greece

Eurogroup chief Dijsselbloem says privatisation fund will manage 50 bln in assets, will be based in Greece & headed by experts.

“Trust was a very key issue, we looked at reforms, debts, financials needs. We were able to agree on all these issues to get Greece back on track.

The Greek parliament will legislate very quickly on a number issues, which will help bring back trust to member states.

There is agreement that Greek reforms need to be strengthened sooner.

Assets will be transferred to a fund to be set up. The fund will monetise them by privatisation or running them. It will be used to help recapitalise banks.

Once the €25bn needed for recapitalisation is repaid, the remaining funds will be used to bring down debt by 50% and the other 50% for the Greek government to reinvest into Greece.”

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