Greece, Don't Just Sit There. Undo Something.

Earlier this month Greece's government announced the formation of a privatization "superfund" to sell off state-owned assets, including the Greek railways, postal service and a number of utilities. Its scope – the sale of 50 billion euros in state assets – comes a close second in scale to the privatizations of the 1980s in Britain under Margaret Thatcher.

The comparison is apt: If the government goes through with its plans, the effects could be as far-reaching as any of Thatcher's reforms. Unlike previous privatization funds, the new fund -- called the Hellenic Company for Assets and Participation -- will plow 50 percent of its revenues back into Greece, delivering a much-needed boost to investment. Its lifespan of 99 years suggests that this is a long-term project. And the fact that the fund includes two representatives from the European Stability Mechanism on its supervisory board -- one of whom will be its president -- says much about where the impetus is coming from.