Greece has agreed to sell the operating rights of over a dozen of its airports to a German company in a bid to qualify for bailout loans. The $1.37 billion concession is one of Greece’s biggest privatization deals since the start of the debt crisis.
The decision will hand over 14 of Greece’s airports to Frankfurt airport operator Fraport AG. Fraport expects to close its agreement with Athens in October. The deal will be in effect for the next 40 years.
And more infrastructure gets plundered in the raid of Greek national sovereignty. Soon we’ll find out who gets what in this case — and it could be Germany once again, which just days ago, took over the Greek airport infrastructure. The Fourth Reich has pulled off the greatest heist of all time.
Greek privatisations under the EU bailout are set to include water companies, leading energy firms, and swathes of infrastructure.
The list, compiled by the Hellenic Republic Asset Development Fund, and agreed with creditors on 30 July, was published on Wednesday (19 August) by German Green MEP Sven Giegold.
He said the Greek public “hardly knows” what will be sold off and has “the right” to more “transparency”.
It’s been hammered in here quite often, but always needs a repeat: All roads lead to Berlin as the European project was designed to fail. Having set up Greece to fail was only one part of the larger plan.
As Greeks suffer in multiple ways the effects of the economic crisis their country is going through, Germany has profited handsomely from the Greek crisis. This is a conclusion of research carried out by the Halle Institute for Economic Research (IWH). The study shows that the Greek debt crisis resulted in a reduction in German bund rates of about 300 basis points (BP). This led to interest savings of more than 100 billion euros ($1.10 billion) (equivalent to more than 3 percent of gross domestic product (GDP) during the period 2010 to 2015. Continue reading
Can you guess who gets the prize? That’s right, Germany’s Fourth Reich.
Greek Liquidation Sale Begins: German Company Wins Privatization Bid For 14 Greek Regional Airports
Who would have thought.
A German company, airport operator FRAPORT won the bid to operate and maintain 14 regional airports, considered to be top of the top in Greece. With an offer of 1.23 billion euro, the consortium of Fraport-Slentel (a unit of Greek energy group Copelouzos) won the bid to lease the regional airports for 40+10 years. Among the 14 regional airports are those on most popular tourist Greek islands like Mykonos, Rhodes, Kos, Santorini and Corfu. It is the first privatization deal under SYRIZA-ANEL coalition government and the biggest privatization deal in Greece since beginning of the crisis and the bailout programs in 2010.
The last few nails in the coffin are being driven in by the German-led Troika and soon Greece will be in 100% vassal state mode.
Earlier today, tucked away from the public’s eyes, there was another round of drama involving Greek securities this time focused on Greek senior bank bonds which promptly tumbled back to post-referendum/pre-bailout #3 levels.
The catalyst was Friday’s pronouncement by Jeroen Dijsselbloem who said depositors will be shielded from any losses resulting from the restructuring of the nation’s financial system, but that senior bondholders would certainly be impaired and probably wiped out. In other words, once again the super priority of various classes has been flipped on its head with general unsecured liabilities ending up senior to, well, senior bank claims. Continue reading
The study, conducted by the private, non-profit Leibniz Institute of Economic Research, showed that each time investors got bad news about Greece, they rushed to the “safe haven” of Germany. As a result, Germany’s interest payments on borrowed funds significantly lowered.
Germany has disproportionately benefited from these next-to-nothing interest rates, according to the report. The $111 billion it has saved amounts to over 3 percent of its gross domestic product. Government bonds in other countries such as the United States, France and the Netherlands have benefited but to a much smaller extent. Continue reading
As predicted here for years, Greece will become the vassal state of a German-dominated Europe ran through the Troika. All roads lead to Berlin and its Fourth Reich. In the medium-term, look for more nations to be subjugated like Cyprus and Greece. They will be destroyed and rebuilt in order to form a United States of Europe.
The Greek government is to surrender powers over vast areas of economic and social policymaking to its eurozone creditors under draconian terms agreed for a new three-year bailout.
The 29 pages of conditions concede ultimate authority over much of Greek policymaking to the eurozone and establish a system of quarterly reviews of the reforms by the troika of institutions – the European commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) – representing the creditors.
According to a legal fellow at Electronic Frontier Foundation, the German authorities seem to have plans for a mass surveillance program that parallels the NSA program.
MOSCOW (Sputnik), Anastasia Levchenko — German authorities may be establishing a spying program similar to that of the US National Security Agency (NSA), a legal fellow at Electronic Frontier Foundation (EFF) told Sputnik Tuesday. Continue reading
Pushing for Unity
“What threatens us is not too much Europe, but too little Europe,” wrote French President François Hollande on July 19. He called for a new parliament to govern the eurozone, a new eurozone government that would have its own budget.
The idea of closer integration has strong support across Europe. Guy Verhofstadt, one of the top leaders in the European Parliament, tweeted his support of a “political union” during the latest iteration of the Greek crisis.
Most importantly, it has strong support in Berlin. German Finance Minister Wolfgang Schäuble called for a eurozone parliament and a “European budget commissioner” a year ago—almost the same recommendations as Hollande. Just two days before Hollande’s article, Spiegel Online published this interview with Schäuble. Continue reading