Shocking unemployment numbers of 16%-17%

Shocking forecast about the recession, which will reach 3.9% instead of the estimated 3.5% this year. Unemployment numbers will rise to 16-17%, as the Vice President and Finance Minister Evangelos Venizelos stated during an interview with Reuters.

The minister stressed that his first priority is to reform the tax system and the program of privatizations.

“The prime minister and I can tune up the system in a quick and efficient way”, he said. Referring to privatization, Mr. Venizelos announced the immediate establishment of the Public Property Fund.

“We will immediately implement the Fund for the privatization of public property in order to achieve our quantitative target set for this year and of course, throughout the period leading to 2015”.

“The goal we have for 2011 is achievable, as it involves the privatization and utilisation of public property data that does not cause legally complicated issues”, added the minister.

According to the memorandum, the government has to raise 5 billion euros from privatizations this year alone and another 10 billion in 2012, targeting 50 billion by 2015. In 19 months of government, no privatizations had been made.