15 July, 2003
Economy and Finance Minister Nikos Christodoulakis said that the government's measures to reform the capital markets' institutional framework, strengthen the market's supervisory bodies and promote structural changes have created the preconditions for a positive course of the domestic market.
Mr Christodoulakis also urged for the market to be left outside political harassment and to be left alone to function on their own devices.
The Greek minister, speaking to reporters, said that the government's privatization program has raised 1.408 billion euros so far, a sum expected to total to 1.847 billion euros by the end of August with the sale of a 33.4 percent equity stake in Hellenic Stock Exchanges, the flotation of a 25 percent equity stake in Piraeus Port Organization and the sale of a lottery license.
Mr Christodoulakis said that the government would complete on Tuesday the transfer of a 33.4 percent equity stake in Hellenic Stock Exchanges to seven Greek banks and that the state would put 89 million euros in its coffers.
He also announced a procedure to liquidate a development investment company to use its reserves, totalling 23 million euros, to fund a New Economy Fund
Mr Christodoulakis said that the government expected to raise more than 3.0 billion euros from the sale of its equity holdings and that a proceedings would hold to reduce the country's public debt.
"Our ideological and political command is to boost employment and to combat unemployment," Mr Christodoulakis stressed.
Source: Athens News Agency