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WORLD NEWSWednesday 19 August 2015
Greece gives German firm rights to run 14 airports
ATHENS, Greece (AP) —
Greece has agreed to sell
to a German company the
rights to operate 14 region-
al airports. The deal is the
first in a wave of privatiza-
tions the government had
until recently opposed but
needs to make to qualify
for bailout loans.
The decision, which was
published in the govern-
ment gazette overnight
Monday to Tuesday, would
hand over the airports, in-
cluding several on popular
tourist island destinations,
to Fraport AG, which runs
Frankfurt Airport, among
others across the world.
The concession, worth 1.23
billion euros ($1.37 billion),
is the first privatization deci- ing by one notch, from CC
sion taken by the govern-
ment of Prime Minister Alex-
is Tsipras, who was elected

in January on promises so Wednesday.
to repeal the conditions
of Greece’s previous two Separately, the govern-
bailouts.
The government had ini- ment slightly relaxed its
tially vowed to cancel
the country’s privatization restrictions on banking
program, but Tsipras has
been forced to renege on transactions, allowing
his pre-election promises
in order to win a deal on a small amounts to be sent
third international bailout
for Greece, worth 86 billion abroad for the first time in
euros. Without the rescue
loans, the country would about two months.
default on its debts and
risk being forced out of Eu- The finance ministry’s
rope’s joint currency.
Citing the rescue loan amendments, also pub-
agreement, Fitch interna-
tional agency late Tuesday lished in the government
raised Greece’s credit rat-
gazette, include allowing
to CCC — but still near the
bottom of the rating scale Greeks to send up to 500
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