Commission: Helleniko privatization of crucial importance

Thursday, 05 October 2017 13:40
UPD:13:41
SOOC/Alexandros Michailidis

The European Commission on Thursday weighed in on the increasingly difficult course of clearing licensing and bureaucratic hurdles faced by the landmark Helleniko real estate development project in Greece.

Speaking in Brussels, a Commission spokesman said the EU executive's services are aware of and are examining a recent decision by a culture ministry-affiliated council. The latter designated 28 to 35 hectares of the 620-hectare site as entailing an "archaeological interest".

The spokesman also called the privatization - which is directly cited in the third memorandum as a 'prior action' - as being of "crucial importance" for the creation of jobs spots and in order to boost economic growth in the still bailout-dependent country.

Greek officials, especially in the current leftist-rightist coalition government, have pledged to facilitate and promote the investment, according to the Commission.

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