In perhaps the most significant move, the state sold off its poorly run hotels here to Sun International, which razed them and built the Royal Livingstone on one site and the Zambezi Sun on the other.
The state sold off its assets at knock-down prices, with an average increase in profits of 419% in nine companies from privatisation to 2010, compared with an FTSE100 average of 206% in the same period.
In the early 1990s, other Russians watched their savings eaten by inflation and the assets of their state sold off at bargain prices to those in the know.
After the freeway extension plan was killed in 1975, the state sold off the hundreds of homes in Silver Lake and East Hollywood it had acquired for the project.
The bailout requires Greece to cut wages, raise taxes, fire state employees, sell off state assets and restructure labour laws.
He has vowed to eliminate about 9,000 state jobs, sell off state industries, raise the retirement age and reduce pensions for early retirees in order to bring the budget deficit down to 1.7percentt of Austria's total output from well over 2percentt.
The Venizelos 2011-15 strategy, however, calls for €50bn from state sell-offs.
Government officials insisted that Mr. Stavridis's ouster from the privatization agency, Taiped, was "for ethical reasons" and would not upset the country's state sell-off effort.
The troika has urged Athens to speed up state sell-offs and to step up tax collection to raise much-needed money.
This is politically controversial in Athens (see article), but well-designed state sell-offs can both boost an economy's efficiency and raise funds.
