Greece prepares to sell off state assets to get loans

Townhall.com Staff
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Posted: Jun 20, 2011 12:35 PM
Greece prepares to sell off state assets to get loans
Athens, Greece (CNN) -- Greece is preparing to sell off billions of dollars worth of state assets including airports, highways, state-owned companies as well as banks, real estate and gaming licenses to meet international lenders' demands that it raise funds.

European finance ministers said Sunday that they were on track to give Greece a second huge bailout to keep the government afloat, but reiterated that Athens had to take tough measures to get it.

Greece has to raise 50 billion euros ($71 billion) through privatization by 2015, Eurogroup members said.