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.