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The EU has stipulated that in order to receive financial support Greece must privatise public assets. Advise Greece on the experiences of the UK's privatisation programme, and how they can avoid the errors of the UK's experience - Essay Example

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Advise Greece on the experiences of the UKs privatization programme, and how they can avoid the errors of the UKs experience
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The EU has stipulated that in order to receive financial support Greece must privatise public assets. Advise Greece on the experiences of the UKs privatisation programme, and how they can avoid the errors of the UKs experience
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Extract of sample "The EU has stipulated that in order to receive financial support Greece must privatise public assets. Advise Greece on the experiences of the UK's privatisation programme, and how they can avoid the errors of the UK's experience"

Download file to see previous pages The question will be answered by constructing major themes that discuss the meaning of privatization, privatization from the view point of the United Kingdom and how Greece should learn from the United Kingdom experience.
In a very typical and ideological world, the word “privatization” may have several meanings and interpretation. However, the present study limits the definition and meaning of the word to its political connotation. From a political viewpoint, Starr (1989) perceives the meaning of privatization from two major perspectives. First, he talks about “any shift of activities or functions from the state to the private sector.” This therefore implies any situation in the governance system whereby the populaces who in this case are considered to be in the private sector are given much power to take charge of basic activities and functions that would otherwise had been monopolized by government. In the second instance, the writer states that privatization also represents “any shift of the production of goods and services from public to private.”
As it appears now, it would be said that Greece finds itself in some kind of serious fix whereby the country’s hands are very tight as far as the opinion given by the European Union is concerned. This point is made against the backdrop that as far as Greece remains a member of the Union, it is bound by regulations to heed to all conventions and laws that come from the General Assembly. A refusal to do this may result in a rather unpleasant situation where it would have to face political and economic sanctions from the European Union that may even worsen the financial plight of the country (Musgrave, 2001). Again, as far as the ownership of businesses in Greece is concerned, Greece will be faced with under capitalization because the government or public sector is not presently in a better position to man the affairs of State enterprises and businesses and cushion them with the needed ...Download file to see next pagesRead More
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