May 3, 2024

Athens News

News in English from Greece

Larco cost Greek taxpayers €5.77bn from 1989 to 2019

According to experts, the activities of the state-run mining company Larco cost the Greek taxpayers 5.77 billion euros in 2015 prices for the period 1989-2019.

This is the conclusion of a study by the Center for Humanitarian Studies (KEFiM) about this question. The center also indicated that by 2020, Larco had about 480 million euros in arrears, mostly to state-owned enterprises and organizations.

This study was carried out a few days after the acceptance by the GEK Terna consortium and AD Holdings decision to acquire the company and its mines following tenders held by Special Administrator Larco and the State Asset Disposal Fund (TAIPED).

PS There is a classic scheme for the seizure of state assets by collusion of the parties. Managers are appointed who drive the enterprise into losses and debts, then a well-wisher is found who buys the enterprise for a penny. Question: where did the law enforcement agencies look? Or is everything there too?



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