Foreign investors scent profits as Greece sells off the family silver


Has Greece become the new El Dorado for foreign investors? The country is currently busily selling off state-run enterprises, lucrative concessions in state monopolies and coastal resort sites, and has slashed labour costs. The result is that numerous overseas businesses and funds, including some from China, Russia and Qatar, are eager to pour cash into the crisis-stricken country despite local opposition to many of the sell-offs. Amélie Poinssot reports.

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An increase in charges and a fall in the quality of service. That is the scenario feared by those opposing the privatisation of the water companies servicing the Greek capital Athens and the country's second city Thessalonika. “Water is public property, it's not merchandise,” says musician Maria Kanellopoulou, a member of the Save Greek Water group which was set up last year to stop the sell-off of the companies EYDAP in Athens and EYATH in Thessalonika.