Editorial: The challenge of the super fund
It is clear after the Eurogroup decision that Greece is in fact a Eurozone country, but in a special state of limited fiscal sovereignty…
It is clear after the Eurogroup decision that Greece is in fact a Eurozone country, but in a special state of limited fiscal sovereignty, among others. Aside from the tax measures and adjustment mechanism, what really stands out in this situation is the new super fund, which will manage almost the entirety of public assets for 99 years. This is clearly a humiliating decision limiting our national sovereignty, which came as a consequence of the… proud negotiation of the Tsipras government.
From here on were are forced to decide with our creditors how to manage the public assets This humiliating development for the government and political system as a whole could, under certain circumstances, act positive towards the country’s reconstruction, streamlining of the public administration and public entities.
The supervision from Europe and IMF does not aim to sell off public assets to recuperate their loans. Their main aim is for public companies to work efficiently and towards the benefit of the economy and people. In essence to rid them of the party politics and the appointment of useless, in general, administrations, which typically aim to serve party and personal interests.
From this perspective, can anyone who has the country’s future in mind, rather than personal interests, object to transparency and meritocracy in the appointment of administrations at major public companies, which are current run by people with doubtful qualifications? The question that automatically emerges is whether the current government can stand such a prospect, since in its limited time in power it has copied the worst political practices from the past.
Reality however is challenging them, right here and right now. IF they do not decide that the only solution to end the crisis is to streamline public bodies and insist upon meritocracy, then the loss of national sovereignty, for which we are whining today, will be finalized with the final concession of public property. The choice and responsibility will be all theirs…