ABSTRACT
In the years following the 2008 crisis, the developed countries of Europe experienced a massive wave of nationalization. At the same time, a wave of privatization began, but on a smaller scale than in the preceding decades. This paper analyzes the drivers and movements of this complex process. It reveals how quiet and hidden privatization techniques became increasingly important, while nationalizations also took place discreetly, without attracting much publicity or even without statistical review. As part of this process, along with the fortification and foreign expansion of state-owned entities and funds, a new type of public ownership emerged, which, by disregarding the intentions of governments in destination countries, may significantly differ from its traditional form in terms of its operation, objectives, and impact. All of this plays a role in blurring the boundaries between public and private ownership and nationalization and privatization. The dichotomous approach is, therefore, worthy of replacement by new analytical methods.
