A New Greek SWF? Not Really.

Ashby Monk

I’m trying my best this morning to understand Greece’s announcement that it will set up a new “sovereign wealth fund“. A country that had a 2010 budget deficit of 10.5% and public debt in the range of 140 percent of GDP will be the next country to join the SWF club? (Cue vigorous head scratching).

In case you missed it, Finance Minister George Papaconstantinou unveiled a new SWF this morning that will hold state assets in a sort of privatization queue. The new fund will facilitate the sale of roads, ports, bridges and any other state assets to help stave off sovereign default and restructuring.

Whatever Greece calls this new finance vehicle (and I’m inclined to call it something other than a sovereign wealth fund), it’ll have a very difficult road ahead.

0 Responses to “A New Greek SWF? Not Really.”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

RSS Feed


Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 370 other followers

Latest SWF News

Visitors Since August 2010

%d bloggers like this: