The government aims for immediate revenue of 17 bill. euros

About 17 billion euros until 2013 and 26 billion until 2015 from selling public property and companies is the revenue the government is aiming to acquire through new measures, according to Minister of Finance, Mr.Papakostantinou.

The government was talking about 23 billion up until now, but found ways to add three more billion more to cover the deficit of 2010-11.

Of course, not only will salaries and pensions be attacked, but also several tax-free tricks that deprive the government of income. The plan for the privatization of big companies like OTE begins with a percentage of 15% sold to Deutsche Telekom. Other companies like DEI will follow, where the government will minimize its shares by up to 34% whilst retaining its management. The Post Office ELTA will also have to find a strategical investor.

What is for sale

The El.Venizelos airport of Athens will provide additional private capital to its shareholders.

A new law for all regional airports will create new companies with several shareholders, both private and public.

OPAP shares will be sold in 2012.

Full sale of LARCO in 2011.

Public Water Company to add private shareholders.

More cellphone company permissions for 2011.

Public Casinos for sale.

National Lottery to add private shareholders.

Banks

The Agricultural Bank of Greece - they have already announced their shareholder increase

Legacy and Loans Service - separated. Legacy Department remains exclusively public while the Loans Department will be sold to private companies.

Furthermore, a detailed inventory of all property and companies owned by the state will be complete by 2014 and there will be an office that will promote them in the market.