Nationalization might be an avoidable disaster, but privatization is virtually guaranteed to make things worse. See: every time anything has ever been privatized. There was a reason these things were owned by the government in the first place.

> There was a reason these things were sold of in the first place.

Privatize profits, socialize costs. That is the main reason for nationalization. Western nations would not be so much in debt if they had assets. All assets were sold during neoliberal policies and the state was stripped from income. That is not going well, is it?

Re-nationalization is the only option to have solvent states.