Greece, EU to agree on privatisation agency

Athens and its European creditors are about to reach an agreement on forming a privatisation agency that will work independently from the Greek government, German newspaper Handelsblatt reported on Wednesday.
Handelsblatt, without citing sources, said it was still open whether the International Monetary Fund, the European Union or the European Central Bank would be involved in the agency's business. EU officials have asked Athens to step up privatisations urgently and suggested setting up a trustee institution to help oversee the process, similar to the body that privatised East German companies after the fall of communism.
The EU has not asked to play a major role in the asset sales and is only offering its expertise, Finance Minister George Papaconstantinou said on Saturday.
Papaconstantinou also promised to raise 28 bln by 2015 from spending cuts and income tax increases, Handelsblatt also reported without citing sources.