Business

Serious situation created also by two-party system

Greece's wretched experience has been a poor advert for asset sales as a tool to cut state borrowings, but others in the eurozone high debt club are much better placed to make a decent fist of privatizations.

Greece has seven to eight months to turn around its recession-hit economy and make use of EU funds and a landmark debt rollover or market fears will return, the prime minister's economic advisor said on Monday.