November 26, 2011
Greece may miss its target for privatization revenues next year because of the worsening economic climate in Europe, the head of the agency responsible for selling state assets said in an interview to be published on Sunday.
Greece's repeated failure to meet budget targets including for privatization revenues has angered international lenders, raising questions about whether they will continue indefinitely to keep the country afloat with bailout loans.
Costas Mitropoulos, head of the Hellenic Republic Asset Development Fund, told the Kathimerini newspaper the privatization revenue target of 9.3 billion euros ($12.3 billion) for 2012 was "achievable," based on the draft budget assumptions.
"But reality will show whether these assumptions were right. In order to be able to sell, there should be buyers," he said, noting that even Germany failed this week to sell all its bonds at an auction.
"If this (difficult economic) situation continues, then it is certain that it will be difficult for us to find buyers for our assets."
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