Deals
Greece Revives Privatizations With One Difference: More Time
- Government could be given decades to sell property assets
- Previous program raised only 3.1 billion euros in four years
The Acropolis museum in Athens, Greece.
Photographer: Angelos Tzortzinis/BloombergThis article is for subscribers only.
For a lesson in why Greece’s attempts to sell billions of euros of assets have foundered, look no further than the New Acropolis Museum in central Athens.
Although a site was chosen in 1976, court challenges by residents, the discovery of archaeological ruins and political disputes meant it took 33 years to complete the building.