The
war is over; let the occupation begin
The ink was
not yet dry on the new European bailout accord for Greece before
German companies started their plundering of Greek assets.
Per
provisions of the “agreement” imposed on Greece, the Athens
government awarded the German company that runs the Frankfurt
Airport, Fraport, a concession to operate 14 regional airports,
mostly on the islands like Mykonos and Santorini favored by tourists,
for up to 50 years in the first privatization of government-owned
assets demanded by the creditors.
The airport
deal had been agreed upon last year by the previous Greek government
and then suspended by Prime Minister Alexis Tsipras’s newly elected
government this year as part of his pledge to prevent the fire sale
of valuable public assets at bargain-basement prices.
The airport
deal gives Fraport the right to run the facilities as its own for 1.2
billion euros over the 50 years and an annual rent of 23 million
euros. The German company is also pledging to invest significantly in
upgrades for the airports.
Under the
terms of the new bailout accord, which provides 86 billion euros of
new debt to a government already vastly overindebted, the country
must sequester 50 billion euros worth of public assets to sell off at
distressed prices to mostly foreign bidders — with German companies
first in line.
In the end,
Tsipras had no choice but to buckle under to the creditors’ demands
if he wanted to fulfill his other pledge of keeping the country in
the euro.
But the
plundering that has now begun unmasks the whole euro charade for what
it really is — a war of conquest by money rather than by arms.
Privatization
is a standard feature of the neoliberal policy mix seeking smaller
government, less state intervention and more free-market competition.
(Privatization, of course, leads just as often to crony capitalism,
while some services, such as electricity and trains, are arguably
more efficient as government-owned monopolies.)
But
privatization in the context of the bailout accord is tantamount to
expropriation, like forcing a bankrupt to sell the family silver in
order to pay off debts.
After piling
more and more unsustainable debt onto the Greek government in two
previous bailouts — most of which went back to banks in France and
Germany — the victorious Northern European governments are now
inviting their companies to partake in the spoils.
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