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WORLD NEWSWednesday 19 August 2015

Greece gives German firm rights to run 14 airports 

ATHENS, Greece (AP) —             in January on promises                                                                          so Wednesday.
Greece has agreed to sell         to repeal the conditions
to a German company the           of Greece’s previous two                                                                        Separately, the govern-
rights to operate 14 region-      bailouts.
al airports. The deal is the      The government had ini-                                                                         ment slightly relaxed its
first in a wave of privatiza-     tially vowed to cancel
tions the government had          the country’s privatization                                                                     restrictions on banking
until recently opposed but        program, but Tsipras has
needs to make to qualify          been forced to renege on                                                                        transactions,  allowing
for bailout loans.                his pre-election promises
The decision, which was           in order to win a deal on a                                                                     small amounts to be sent
published in the govern-          third international bailout
ment gazette overnight            for Greece, worth 86 billion                                                                    abroad for the first time in
Monday to Tuesday, would          euros. Without the rescue
hand over the airports, in-       loans, the country would                                                                        about two months.
cluding several on popular        default on its debts and
tourist island destinations,      risk being forced out of Eu-                                                                    The finance ministry’s
to Fraport AG, which runs         rope’s joint currency.
Frankfurt Airport, among          Citing the rescue loan                                                                          amendments, also pub-
others across the world.          agreement, Fitch interna-
The concession, worth 1.23        tional agency late Tuesday                                                                      lished in the government
billion euros ($1.37 billion),    raised Greece’s credit rat-
is the first privatization deci-  ing by one notch, from CC                                                                       gazette, include allowing
sion taken by the govern-         to CCC — but still near the
ment of Prime Minister Alex-      bottom of the rating scale                                                                      Greeks to send up to 500
is Tsipras, who was elected       and deep in junk bond ter-
                                                                People wait to cross the street as an elderly woman begs          euros ($555) abroad per

                                                                for alms in the northern port city of Thessaloniki, Greece,       person per month, and al-

                                                                on Tuesday, Aug. 18, 2015. Greece has agreed to sell to a         lowing up to 8,000 euros

                                                                German company the rights to operate 14 regional airports.        per quarter to be sent to

                                                                The deal is the first in a wave of privatizations the government  students studying abroad

                                                                had until recently opposed but needs to make to qualify for       to cover accommodation

                                                                bailout loans. 			           (AP Photo/Giannis Papanikos)         costs.

                                                                ritory.                      the risk of delayed (bailout)        Greeks can now also open
                                                                Fitch said the bailout       program reviews,” it said.
                                                                agreement has reduced        “Meanwhile, the political            new bank accounts that
                                                                the risk of Greece default-  situation in Greece remains
                                                                ing to its private sector    unpredictable.”                      will have no withdrawal
                                                                creditors.                   The bailout deal is getting
                                                                But the agency warned        its final approvals in parlia-       rights, in order to repay
                                                                that the risks to the bail-  ments in several European
                                                                out’s success remain high.   states. Lawmakers in Spain           loans, social security con-
                                                                “It will take some time for  and Estonia approved it
                                                                trust to be restored be-     Tuesday, while those of              tributions or tax debts.
                                                                tween Greece and its         Germany and the Nether-
                                                                creditors, which increases   lands are expected to do             The government restrict-

                                                                                                                                  ed banking transactions

                                                                                                                                  in late June to prevent a

                                                                                                                                  bank run after Tsipras an-

                                                                                                                                  nounced a referendum on

                                                                                                                                  creditors’ terms for a new

                                                                                                                                  bailout.q

                                                                Russia’s Putin rides to bottom of Black Sea 

                                                                NATALIYA VASILYEVA           and Lake Baikal in sub-              He ended the chat with a
                                                                Associated Press             mersibles. He also went              casual “Big hug!”
                                                                MOSCOW (AP) — Another        scuba diving in the Kerch            Off the vessel, Putin was
                                                                summer, another trip to      Strait that connects the             greeted by Medvedev,
                                                                the bottom of a sea for      Black Sea to the Sea of              who did give him a hug,
                                                                Russia’s adventure-loving    Azov, where he brought               and also by his chief of
                                                                president.                   up fragments of ancient              staff and defense minis-
                                                                Vladimir Putin climbed into  Greek jugs, or amphorae,             ter. They were among the
                                                                a three-seat submersible     that his spokesman later             many Russian officials who
                                                                craft Tuesday to check       admitted had been plant-             accompanied him on this
                                                                out an ancient sunken        ed.                                  week’s trip to Crimea.
                                                                ship found recently in the   Speaking by radio to Prime           Pressed by a reporter
                                                                Black Sea off the coast of   Minister Dmitry Medvedev             whether it was wise to
                                                                Crimea — the peninsula       while still under water, Pu-         spend money on such ven-
                                                                annexed by Russia last       tin said he hoped the trad-          tures when Russia’s econo-
                                                                year from Ukraine. He de-    ing ship would shed light            my is struggling through a
                                                                scended 83 meters (272       on Russia’s development              painful recession, Putin said
                                                                feet) to see the remains of  and show “how deep our               his dive should help attract
                                                                the Byzantine trading ship,  historical roots are.”               publicity and donors to
                                                                which he said dated back     He told Medvedev he                  the important work being
                                                                to the 9th or 10th century.  should have come along.              done by the Russian Geo-
                                                                On previous trips deep       “It’s great, there are lots of       graphical Society to study
                                                                underwater, Putin has ex-    objects, amphorae scat-              “how our state was built,
                                                                plored the Gulf of Finland   tered around,” Putin said.           including in this region.”q
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