Associated Press/Bloomberg
February 14, 2011
Greece insisted Monday that a target of raising euro50 billion from by development of state assets by 2015 was realistic, but that the issue should not have been announced by the country's international debt inspectors.
The first public spat between Greece and its international rescuers broke out over the weekend after representatives of the International Monetary Fund, European Central Bank and European Commission said Friday that Greece must privatize euro50 billion ($68 billion) in state assets by 2015 and speed up structural reforms in coming months to keep its troubled finances afloat.
The three institutions, collectively known in Greece as the troika, are supervising reforms essential to the disbursement of funds from a three-year euro110 billion package of rescue loans that saved Greece from defaulting on its debts.
Government spokesman Giorgos Petalotis issued a sharp rebuke in the early hours of Saturday accusing the troika of interfering in Greece's domestic affairs and overstepping the boundaries of their roles. Prime Minister George Papandreou also discussed the issue with IMF chief Dominique Strauss-Kahn.
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