Same thing, different guise

During the economic crisis, the state asset hyperfund seemed like the perfect solution for ridding Greek taxpayers of the burden of a public sector that had been proven time and again to be a terrible business manager. Developments since have not vindicated that optimism.

Efforts to restructure certain state-controlled companies have fallen short of dealing with several pockets of underperformance, such as Hellenic Post, which has already absorbed 280 million euros in funds for “restructuring” yet continues to operate at a standard that belongs in the previous century.

Taxpayers have paid too much to end up with the same thing in a different guise.