By the end of the year, the two major pending issues of the Hellenic Financial Stability Fund, namely the disposal of 18% of the shares of National Bank and the merger of Attica Bank with Pancreta, are expected to be completed, announced today the Minister of National Economy and Finance, Kostis Hatzidakis, presenting the new legislative interventions of the government for the public sector enterprises, the Growth Fund, and the new National Investment Fund. After the completion of these two pending issues, the HFSF will be merged with the Ypertafond, as will the Hellenic Republic Asset Development Fund (TAIPED).

NATIONAL INVESTMENT FUND

As regards the new National Investment Fund, it will initially be funded with €300 million in order to co-invest in dynamic sectors of the economy. The participation of the European Investment Bank is being considered, said Mr. Hatzidakis.

PUBLIC UTILITIES

Regarding public utilities and subsidiaries of the GrowthFund, the Minister of Economy and Finance announced specific interventions, which are:

• The strengthening of the role of the Board of Directors
• Recruitment from the private sector for the position of General Manager and other managerial positions for 2 four-year terms by decision of the CEO
• raising of salaries in the Post Office and other PPOs, except for public transport. This matter will be decided by the State Treasury and their Boards of Directors. The Unified Wage Scale will apply as it does today to the Public Transport Companies
• Faster recruitment procedures will be established through the ASEP, which will now only check the legality of the notice.