Privatization, though widely publicised in the 80s, is not a new phenomenon. The 60s and the 70S provide different examples in several European countries. However, in the 80s, the rate of privatization increased dramatically. Between 1984 and 1991, the governments of 105 countries sold the equivalent of $250 billion worth of state companies to private investors. While no country went quite as far as Britain under Margaret Thatcher, everywhere in Europe, whichever party was in government, whatever ambitions they had, the policy of privatization was pursued with different degrees of enthusiasm and sometimes for contradictory reasons. Privatization will certainly remain on the European political agenda given the financial difficulties of the governments. This book looks at what could be privatized, why and how it could be done and finally, whether this large scale privatization programme will result in redefining the relations between the state and industry.