Greece isn't responsible for failure of DEPA deal

The Greek government admits that the planned privatization of the country's gas supplier DEPA has to be postponed. The government says no serious bidders are left in the end, with Russia's Gazprom opting out too, Deutsche Welle cites Reuters as saying.

"The timing of the announcement couldn't have been any worse. Just as international lenders from the European Union, the European Central Bank and the International Monetary Fund resumed their audit of Greece's spending cuts, Athens had to report that the planned privatization of gas utility company DEPA had failed, at least for the time being," the news agency believes.

Greek Prime Minister Antonis Samaras says, however, that the cabinet is not responsible for the failure of the deal.

"The competition has met all the legal standards. All existing problems have not been created by us," the prime minister says.