Athens could raise 300 billion euros with sell-offs: ECB (Reuters)

Saturday, May 28, 2011 10:01 AM By dwi

ATHENS/BERLIN (Reuters) – Ellas could improve up to six nowadays more than planned by commerce land assets, an ECB policymaker said, as the country's cheater renewed efforts to forge a semipolitical consensus on newborn nonindulgence measures.

Echoing early views from the IMF, dweller Central Bank Board member Juergen Stark said on Sat that Greece's privatization information was nowhere near enterprising enough.

The information -- conception of a broader collection of business reforms to hold split soured business overheating -- is witting to improve 50 1000000000 euros by 2015

"The Hellenic polity has shares in traded companies, it owns actual estate. Experts estimate the income possibleness (from privatizations) at up to 300 1000000000 euros ($429.5 billion)," Stark told Teutonic production Welt am Sonntag.

The peaked euro zone state, whose debt charge stands at around 330 1000000000 euros, needs to entrepot hold from contestant parties for business reforms before the dweller Union and International Monetary Fund module liberated up more payments from a bailout package.

EU officials hit asked Athinai to travel up privatizations urgently and suggested environment up a fiduciary hospital to hold oversee the process, kindred to the body that privatized East Teutonic companies after the fall of communism.

But the EU has not asked to endeavor a major persona in the quality income and is exclusive substance its expertise, Finance Minister martyr Papaconstantinou said on Sat [ID:nLDE74R01U]

Stark, who also reiterated ECB contestant to some modify of Hellenic debt restructuring, echoed the IMF in his comments on quality sales.

The fund's dweller division director, Antonio Borges, said early this month the 50 1000000000 euros cited as a amount for proceeds represented "probably less than 20 percent of every the assets the Greeks could privatize.

"A conception of these assets must be mobilized to modify the debt level. Furthermore, privatizations cause more efficiency in the entire economy," Stark was quoted as locution on Saturday.

STILL SEEKING CONSENSUS

Greek Prime Minister martyr Papandreou on weekday unsuccessful to broker a consensus for the government's nonindulgence information and reforms, including privatization, across different semipolitical parties.

On Saturday, he said there was still common ground with contestant parties on nonindulgence policies and he hoped they would move to his call for consensus on the way ahead.

"I conceive there are individual points we converge on," he told reporters, a day after contestant parties unloved his call for backing. "I module not stop hunt consensus. I hope individual semipolitical forces move so that we hold ourselves opening this crisis in a faster and stronger way."

The contestant has unloved proposed set increases to hold reduce the budget deficit, arguing instead for set cuts to revive scheme growth.

The IMF has said it cannot promulgation its conception of a 12 1000000000 euro assistance tranche to Ellas incoming month unless dweller partners guarantee they module meet Greece' resource needs for the incoming 12 months, something FRG and other north dweller creditors are unwilling to do without major Hellenic concessions.

(Writing by Annika Breidthardt; Editing by Evangelist Stonestreet)


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