However, the deal didn't come as easily for Greece. German Finance Minister Wolfgang Schaeuble proposed that as much as €50-billion of Greek public assets must be transferred to an external fund and privatized over time.
Essentially, this means Greece must hand over its public assets worth €50-billion — to the German-government owned fund to be sold by the Germans.
The move may be interpreted as impinging on the sovereignty of Greece. However, what can the Mediterranean nation really do? The morale of the story is simple: bend to Germany's will, or your economy will be destroyed.