Well let’s not sit on the fence – I would say every time it is better if government gets to grips with the problem as a prelude to privatisation rather than leave it to somebody else to clear up what is inevitably a mess. Where this has been done – the UK for example – new private sector operations have advanced at a quicker pace with commensurate benefits to the economy as a whole. Where it has not been done or really just been done in principle but not followed through – for instance Spain and Italy respectively – then problems keep occurring and scaling up to new levels.

There are diverse day-to-day problems relating to operational efficiency and when it comes to the time to invest in new capacity, the investment equation becomes more and more complex largely due to the high cost of labour. Note in this respect the new Hutchison terminal in Barcelona which will feature a high degree of automation intended not just to deliver a premier performance but reduce labour cost.

The lesson is clear: if you drive round labour issues then, as the colloquial saying in the UK goes, they will almost inevitably come back and “bite you on the bum". Against this background then it will be interesting to see what occurs with the current round of privatisations in the eastern Mediterranean – not only Turkey but Greece where the unions have a reputation for being militant. Sadly, it looks as though it is the operators that will be left on the front line with this challenge while governments take the money and … (you guessed it)!