The privatization and valorization program of the immovable property belonging to the State aims to collect 15 billion euro up to 2013 and a mammoth amount of 50 billion up to 2015 from the sale of more than 30 public enterprises.
According to “privatization barometer” data , since 1991 to this moment, Greece has collected from privatizations about 20 billion euro from 61 such sales. If the amount of 50 billion the government aspires to collect until 2015 is added, Greece will rank fifth among European states with regard to privatizations, after France, ranking first (137.1 billion) , Italy (115.6 billion) , the U.K. (99.4 billion) and Germany (85.5 billion).
However, this amount looks minimal if compared to the Greek debt, now standing at 329 billion euro and which, according to the most optimistic estimates, is expected to be more than double the country’s GDP by 2020.
See in the infographic for the income of the European countries from the privatization of their public property (either through the public offer of a percentage thereof or by using a strategic investor) in the period 1997-2009, in relation to their debt.
It becomes clear from the graphic that up to the nineties privatization was quite unknown, even to western states (with the exception of the U.K. under Thatcher where a privatization program was put into effect since the early eighties). This situation changed in the first two years of the nineties, was intensified with the collapse of the former Eastern block and continues to this day.