The increased budget deficit caused by the privatization of a public pension plan does not imply a relaxation of the … and explicit public debt. There may be circumstances in which pension privatization, if not offset by fiscal consolidation …

This paper deals with the privatization, restructuring, and liquidation of East German industrial firms. A partnership … model is suggested for privatization where the Government’s property trust (Treuhandanstait (THA)) is made a silent partner …