(my bold)12 July 2015 16.00
The Eurogroup stresses the crucial need to rebuild trust with the Greek
authorities as a pre-requisite for a possible future agreement on a new ESM
programme. In this context, the ownership by the Greek authorities is key, and
successful implementation should follow policy commitments.
[text]
● to develop a significantly scaled up privatisation programme with
improved governance.
[The Greek authorities will invite an independent body to assess the price
of assets sold and will investigate the best way to further increase the
independence of TAIPED with the involvement of the Commission.]
OR
[Moreover, valuable Greek assets of [EUR 50 bn] shall be transferred to an
existing external and independent fund like the Institution for Growth in
Luxembourg, to be privatized over time and decrease debt. Such fund
would be managed by the Greek authorities under the supervision of the
relevant European institutions;]
http://blogs.ft.com/brusselsblog/files/ ... m-Copy.pdf" onclick="window.open(this.href);return false;
Guess what.
"External & independent fund like the Institution for Growth in Luxembourg" is chaired by none other than Dr Wolfgang Schäuble.
KfW - Banking company
The KfW, formerly KfW Bankengruppe, is a German government-owned development bank, based in Frankfurt. Its name originally comes from Kreditanstalt für Wiederaufbau. It was formed in 1948 after World War II as part of the Marshall Plan.
History of KfW
KfW Group - Over 65 years of promotional activity
The development of KfW Group has been closely connected to the economic development of the Federal Republic of Germany. Since its founding in 1948 and according to its statutory mission, KfW has been supporting change and encouraging forward-looking ideas - in Germany, Europe and throughout the world. For this purpose it has provided nearly one trillion euros in loans over 65 years.
https://www.kfw.de/KfW-Group/About-KfW/ ... e-der-KfW/" onclick="window.open(this.href);return false;
KfW Group - Board of Supervisory Directors and its Committees
The Board of Supervisory Directors and its committees supervise the conduct of the bank's business and the administration of its assets. The main tasks for which it holds responsibility are the appointment and dismissal of members of the Executive Board, the approval of the financial statements as well as the planning and selection of the auditor to be appointed by the Supervisory Authority.
Chairman of the Board of Supervisory Directors:
Dr Wolfgang Schäuble
Federal Minister of Finance
https://www.kfw.de/KfW-Group/About-KfW/ ... %C3%BCsse/" onclick="window.open(this.href);return false;