eats shoots 'n leaves

From The Privatising Industry in Europe, a Transnational Institute report by Sol Trumbo Vila and Matthijs Peters:

The evidence shows that state companies are consistently undersold and even end up costing governments extra money (undermining the argument that privatisation generates revenue). Particularly in Greece, state assets have often been sold for prices far below their true market value. Research also shows that privatisation has negative implications for labour rights and what consumers pay for public services.

Due to the different, complex levels of financial and legal advice and the many parties involved in privatisations, the processes tend to be very susceptible to different kinds of corruption and conflicts of interest if they are not strictly supervised and monitored. Whereas cases involving flagrant corruption occur relatively often in countries accused of loose transparency and accountability like Greece, conflicts of interest also take place in countries that serve as global hubs…

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