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Commission reacts to judicial probe involving 3 EU experts advising Greek privatization fund

A European Commission spokesman on Friday reiterated that EU experts employed in Greece, within the framework of the Greek bailout program, must enjoy certain guarantees in the course of exercising their professional and institutional duties.

The spokesman, Margaritis Schinas, made the statement in the wake of the same-day appearance of three out of six technocrats, which served on the Greek privatization fund (TAIPED) experts’ council, before a relevant anti-corruption prosecutor in Athens .

Three of the six executives summoned by the relevant prosecutor are foreign nationals (from Slovakia, Spain and Italy) appointed by the EuroWorking Group to the fund, part of the latter’s participation in the second Greek bailout program.

“For us, satisfactory margins of operation must be guaranteed for European experts helping Greece improve its economy,” Schinas said.

He added, nevertheless, that there is absolute respect for Greek law and judicial procedures.

According to an unnamed source quoted by the state-run news agency the same day, the Commission expressed concerns over the prospect of the preliminary judicial process leading to an indictment, a fact which would cause European experts to shun involvement in the Greek program, the source said.

The prosecutor in Athens is investigating alleged charges of breach of faith by the TAIPED board over the sale of state properties.

In a later development, the trio of foreign nationals walked away without any conditions placed on their movements after providing statements to a magistrate in Athens.

The alleged breach of faith charge deals with the period 2013 to 2014, and relates to the sale of 28 state properties.

 All three men reportedly denied any wrongdoing, or any responsibility and or liability for the exploitation of the properties.

The 28 properties include five ministry buildings, 13 tax bureau offices and five police precincts, which were transferred to the fund with the intent of then achieving a “sale-and-lease-back” scheme.

The Spanish and Italian executives are the heads of relevant public property services in their countries, while the Slovakian citizen is the president of the bourse in Bratislava.   

The main defense position expressed by representing attorneys is the fact that the trio acted as consultants, whereas their proposals to TAIPED’s board were not binding.