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FIRE SALE Greece to Sell Off State Assets Kostas Tsironis / AP Photo

Greece to Sell Off State Assets

Looking to pick up a Greek airport on the cheap? The debt-ridden country is preparing to auction off billions of dollars worth of state assets in order to satisfy European lenders’ demands ahead of a second bailout. Airports, highways, and banks will be on the auction block, with a goal of raising $71 billion through such privatizations by 2015. Greece must also submit to more austerity measures, according to the terms of the bailout. Prime Minister George Papandreou, barely clinging to power, will face a vote of confidence on his latest cabinet shuffle.

June 20, 2011 9:52 AM