A reform that changes the image of the Superfund, making it contribute to the development of the economy and serve the ordinary Greek citizen more efficiently through its subsidiaries, the Minister of National Economy and Finance described Kostis Hatzidakis the bill entitled “Restructuring of the Hellenic Holdings and Property Company and its subsidiaries”.

Speaking to the relevant Parliament Committee where the discussion of the bill began, the minister presented the four central axes of the interventions, calling on the opposition to answer whether or not they are modernization interventions and whether they will vote for them or not. “I would like”, he pointed out characteristically referring to the arrangement for the absorption of TAIPED by the Superfund, “to see the parties of the Left side with their signatures in favor of the operation of TAIPED!”.

In particular, the axes of the interventions are:

Firstly, the Superfund is being strengthened organizationally through the absorption of TAIPED and the HFSF. “TAIPED has completed a series of privatizations and the HFSF has finished to a very important extent its work which was the disinvestment from the banks. Do you want there to be separate bodies, boards of directors and fees?”, asked the minister. In the same context, the governance model changes with the establishment of a Corporate Governance Board, in which lenders participate, with limited powers, instead of the Supervisory Board that exists today.

Secondly, modernization of the operations of the Treasury’s subsidiaries with the aim of becoming “small PPCs” in relation to their mode of operation, the method of hiring high-ranking executives and employees, procurement.
“We want a new beginning for these companies from the point of view of the many defenseless Greeks. The average customer – consumer of the services they offer. It’s bad; Of course, we must not wrong the employees. But let’s not see the average citizen? Do we want disgruntled people who are tormented because there really are very serious problems today in buses, trolleys, etc.? Don’t we want them to upgrade? What kind of pro-people politics are we advocating if we don’t look at these people? We must be their voice, this is what we did with PPC and it is an audacity of SYRIZA that bankrupted it to point the finger today”, said Mr. Hatzidakis. And he added:
“What will we say to the people who suffer from the buses and trolleys, that ASEP’s inflexibility is above all because we have the “Holy State” from which we cannot escape?. I don’t do it. Adherence to the “Holy State” is profoundly unpopular. I don’t believe that and I never will.
That’s why we’re enabling private sector executives, making their staffing processes more flexible, making their day-to-day operations more efficient, improving their procurement system. Between the criticism of “golden boys” and the criticism of failure if we didn’t do what we’re doing, I prefer the criticism of “golden boys”. I want, from whatever position I leave, to have specific measurable work. Not for the Left but for the many defenseless Greeks”.

The interventions provided for in the bill also include the managerial right to the managing directors of the companies and the abolition of the participation of trade unionists in the disciplinary councils. “The trade unionists will participate in the Boards of Directors but the disciplinary boards are quasi-courts. Trade unionists are not judges. The roles are different, I say that clearly and without any guilt syndrome towards the doctrines of the Left”, emphasized Mr. Hatzidakis.

Thirdly, the establishment of the new National investment fund with initial capital the money paid by the State for the reacquisition of EYDAP and EYATH. Mr. Hatzidakis mentioned that contacts are being made with the European Investment Bank and investment funds from abroad, especially from the Arab world, in order for them to contribute to the new fund. The aim is to fill the investment gap in specific market sectors and not to replace large foreign investors or venture capital. Regarding the criticism of the hiring of the international firm Blackrock for the establishment of the new fund, Mr. Hatzidakis asked himself: “Would you prefer us to hire an executive from ND or yours? Let Greece also change times. Let’s not see others taking steps forward and us staying in the 80s and 90s.”

Fourthly, TAIPED is granted the right, which it did not have, to utilize 50% of the revenue it collects from contracts for the utilization of ports and port infrastructures in order to finance the implementation of the Master Plans of other ports in its portfolio. Under the previous framework, the total revenue of TAIPED was directed exclusively to debt reduction.

“I am proud”, concluded the minister, “not only for the modernization of the role of the Fund, but also because after the agreement with the ESM, it will be able to contribute much more to the development of the economy, especially with the investment fund. But also why its subsidiaries, as was the case with PPC, will serve the citizens by moving into a new era”.