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Trude  Mandag 9. Januar 2012, kl. 15:18

Dear friends,

I just wanted to alert about this new report by Deutsche Bank, which 
argues that EU countries caught up in the eurozone debt crisis should 
privatise to raise funds and gain trust of the markets. The 16-page 
report is a hopeless piece of neoliberal orthodoxy full of platitudes 
about the private sector being more effective than the public, but in 
the current political and economic context there is reason for concern.

The Deutsche Bank report argues "there is scope for privatisation in 
nearly all sectors of the economy", but then highlights "the areas of 
infrastructure and services of general interest. Rail transport, 
postal service, water supply and sewage disposal are still in the 
remit of the public sector in many countries."

The report explicitly mentions that the political circumstances for a 
new privatisation push are favourable: "The commitment to privatise 
government property is one of the main components of the restructuring 
plans imposed by the 'troika' of IMF, ECB and European Commission on 
euro-area countries when they avail themselves of aid from the euro 
rescue packages."

The report "Revenue, competition, growth - Potential for privatisation 
in the euro area" (Deutsche Bank Research, December 1, 2011) is online 
here: 
http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000281545.pdf

It seems high time for a strong pan-European counter-campaign against 
the new privatisation push and particularly the role of the European 
Commission in this.

In solidarity,

Olivier Hoedeman
Corporate Europe Observatory (CEO)
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