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Parliamentary questions
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28 March 2019
E-001533-19
Question for written answer E-001533-19
to the Commission
Rule 130
Georgios Epitideios (NI)

 Subject:  Government plans to privatise ETEAN
 Answer in writing 

The Greek Government’s plans for ETEAN (the Hellenic Fund for Entrepreneurship and Development) have understandably given rise to a number of questions and concerns.

The purpose of ETEAN is to serve as a guarantee for small and very small business units by helping them to cover their costs through financial means such as loans, receivables discounting and financial leasing, etc.

The government appears to be intending to fully privatise ETEAN through an amendment to Law 3912/2011., effectively removing it from the broader public sector, and turning it into the Development Bank. This will substantially alter the status of ETEAN employees, all of whom are currently employed under open-ended private law contracts, and will now become private-sector employees. At the recent economic forum, Yannis Dragasakis singled out ETEAN as his crowning achievement, announcing that he would be transforming it into a development bank providing low-interest loans. However, ETEAN has already provided more than 70 000 businesses with low-interest loans. In other words, the government is effectively seeking to privatise a state-run agency that is already doing a good job of boosting Greek enterprises.

In light of the above, I would like to ask the Commission:

Given that ETEAN has received EU funds, is the EU not in a position to prevent its privatisation?

Original language of question: EL 
Last updated: 9 April 2019Legal notice