PIRAEUS PRIVATISATION OPENS LEGAL CAN OF WORMS

摘要

Cosco has emerged as the front-runner to acquire control of Piraeus, Greece's largest port, which is being privatised. Should the state-controlled Chinese group gain a foothold in the Mediterranean, northern European ports could find themselves unfairly disadvantaged. In March 2014, the board of directors of the Hellenic Republic Asset Development Fund decided to sell a 67 stake in Piraeus Port Authority, which runs the port. Immediately after the January 2015 elections, Greek prime minister Alexis Tsipras and his left-wing Syriza government halted the sale, arguing this was "for the protection of the interests of the common Greek". Considering the financial situation in Greece, however, they were forced to withdraw from this position and state that all existing privatisation contracts would be honoured and all initiated procedures, such as the privatisation of PPA, continued.