As the sovereign debt crisis has worn on, the natural response by many governments has been to strive towards rapid re-calibration of fiscal policy and significant restructuring of government finances. Part of this has come in through "austerity" which can be considered on the income side by raising taxes, and on the spending side through cutting expenditure, and on the structural side by bringing in reforms such as labour market reforms and raising the superannuation or pension entitlement age. Another means of rapidly restoring budgets and paying down debt is through privatising or selling state owned enterprises. There is nothing wrong fundamentally with selling state owned enterprises; but the reason for doing so and the process is certainly important. Indeed, the last thing you want as an owner of an asset is to be put into a "fire sale" position. However some governments will indeed benefit from restructuring their balance sheets; both on the asset side as well as the liability side. Catastroika brings a largely critical yet informative view on the trends and attitudes on privatizations.
The creators of Debtocracy, a documentary with two million views broadcasted from Japan to Latin America, analyze the shifting of state assets to private hands.
They travel round the world gathering data on privatization in developed countries and search for clues on the day after Greece’s massive privatization program.
Catastroika is a crowdfunded documentary under creative commons license. www.catastroika.com
CATASTROIKA - ENGLISH SUBTITLES by infowar
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Finance Documentaries: http://www.financedocumentaries.com/2012/05/catastroika.html