State Reform & Privatization Policies in Greece: Questions of Democracy, Accountability and Equity

Abstract

The Greek economy shifted towards privatization and
liberalization after the mid 1990s. These policies were part of a
broader process of state reform, which aimed at reducing
government’s involvement in major sectors of the economy, such
as public utilities and the financial/banking sectors. However,
this transition added new financial burdens to the state,
generating substantial amounts of debt which peaked during the
current financial crisis. The purpose of this contribution is to
review the restructuring of the state via privatization policies and
to assess the effect of the reforms on democracy, accountability
and social equity. These questions are being addressed through a
combination of theory and empirical evidence, by comparing and
contrasting the energy and telecommunications sectors.