Greek government halts sale of Piraeus port

The leader of the anti-austerity party and new government of Greece, Alexis Tsipras has stopped the privatisation of country's biggest port
Greek government halts sale of Piraeus port

Greek Prime Minister Alexis Tsipras has halted the sale of Piraeus port, signalling that anti-austerity party Syriza is to stick to its election pledges.

As one of the first decisions to be announced by the new government, the sale of a 67 percent stake in the Piraeus Port Authority to China’s Cosco Group (or one of four other suitors) has been stopped.

Speaking to Reuters, Thodoris Dritsas said, “The Cosco deal will be reviewed to the benefit of the Greek people.”

Syriza came to power on Sunday after winning a landmark election. Since the result was announced the Greek markets have faced turmoil, with bank shares plummeting and investors fearing the worst for the anti-bailout government in Europe. 

For our take on how Syriza's rise to power could affect the shipping community in Greece click here

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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