Privatisation has not had a sparkling record in Greece.

In 2011, the then socialist government said it would sell assets worth €50 billion by 2015 as part of its original bail-out. Widespread scepticism over the size of the target proved well-founded, and asset sales to date have totalled a mere €3 billion, according to the Hellenic Republic Asset Development Fund (HRADF). Public assets tagged for sale are transferred into the fund, which must then find buyers.