State asset strategy overhaul
Superfund is going to absorb the HFSF and TAIPED, streamlining public property utilization
The Greek government and the European institutions responsible for banking supervision and financial stability, such as the Single Supervisory Mechanism and the European Stability Mechanism, co-shape the provisions for the reforms promoted by the Ministry of National Economy and Finance in the Superfund, the Hellenic Financial Stability Fund (HFSF) and the state asset utilization fund (TAIPED).
“We discussed a lot together and modified several provisions so that there is a common denominator, while at the same time we have continuous correspondence that proves there is a common understanding of the reforms we are promoting,” a top source from the Ministry of Finance explains to Kathimerini.
It is recalled that all the above organizations (TAIPED, HFSF, Superfund) were born out of the bailout agreements and were created in the context of the loans received by Greece from the European Union. In fact, the portfolio of the Superfund refers to a number of agreements as collateral for the loans.
The government, and in particular the prime minister and the Ministry of Finance, want to turn the page once and for all through the reforms promoted and ensure that from now on the utilization of public property will have benefits for the Greek economy in general and not only for servicing the debt, government sources say.
Discussions are focusing on the way in which TAIPED and the HFSF will be fully absorbed by the Superfund, as well as how the role of TAIPED as a unit within the Superfund will be expanded in order to continue to bring projects and tenders of particular importance to maturity, thanks to the know-how it has acquired after more than 10 years of operation.
At the same time, talks center on the way in which the revenues from any new investments and utilization of public property added to the portfolio of the organization will be distributed. It is recalled that today all of the TAIPED revenue is directed toward the repayment of the national debt.
