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EU okays Greek plan to privatise Olympic Airlines

18/09/2008

BRUSSELS, Belgium -- The European Commission on Wednesday (September 17th) approved a plan to privatise Greece's national air carrier, Olympic Airlines, Greek Transport and Communications Minister Kostas Hatzidakis announced. The plan will allow the company's privatisation while guaranteeing the jobs of its 8,000-person staff. "This plan will permanently resolve in the best possible way an issue that has been worrying Greek society for 30 years," Hatzidakis said. EU Transport Commissioner Antonio Tajani explained in Brussels that Olympic will have to return about 850m euros in illegal subsidies it received from the state. Tajani added that the EU will closely watch to see that the transfer of assets from the old company occurs at market prices and with absolute transparency. Powerful trade unions in Greece argue privatisation will be catastrophic. (Imerisia, Vima, Eleftheros Typos - 18/09/08; ANA-MPA, ERT, PRIME-TASS - 17/09/08)

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