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Government Pays Debt to Athens Water Utility Ahead of Privatization

By paying 400 million euros worth of debt to the Athens Water and Sewage Company EYDAP, the government hopes it will make the firm more lucrative ahead of efforts to privatize it.

Through the deal there will be a mutual debt write off between the Greek government and EYDAP. However, this will leave a bill of 400 million euros to settle, which unionists argue is actually over a billion euros.

The union is opposed to the sell-off and argues that water privatizations in other parts of Europe have failed.