Theoretical Perspectives and Empirical Facts on Water Sector Privatization: The Greek Case Against European and Global Trends

Abstract

The scope of this paper is to investigate the Greek 'path' to water privatization and its possible interconnections with the ongoing restructuring of the water sector on an EU and a global level. The paper starts with a contemporary, spatially-sensitive analysis of the expanding role of water multinationals, by focusing on water supply operators of the southern EU. Afterwards, it highlights the peculiarities of the 'Greek path' to private sector participation by studying the two most important Greek water companies, in the cities of Athens and Thessaloniki respectively. As found, these companies have partially, though successfully, been transformed according to the rules of the 'market-environmentalist' paradigm. The state drives the privatization effort, while at the same time, insufficiently regulates the activity of both companies. Based on the Greek case, the paper discusses whether the analytical tools offered by a critical approach, the 'accumulation-by-dispossession' thesis, can better interpret changes in water companies of the 'advanced-South'.