Thursday, March 4, 2010

Greece should sell islands to keep bankruptcy at bay, say German MPs

http://www.guardian.co.uk/business/2010/mar/04/greece-sell-islands-german-mps

Can you even imagine this occurring? I can't, but it is within the reasoning of what could possibly occur.
This is one of the after effects of what hidden banking loans have brought to the table.
No one will bailout Greece in the manner that "The Banks" were offered, and yet they fed and fattened themselves time after time, while hiding their presence at the table, until Greece could provide them no more. Then they moved on.
The question is, to whose table did they move to next and at what cost to their host?

Fire sale of Greek islands, Acropolis and Parthenon suggested
• Greek public reacts with outrage and boycotts German goods


Greece must consider a fire sale of land, historic buildings and art works to cut its debts, two rightwing German politicians said today in a newspaper interview that is bound to exacerbate tensions between Athens and Berlin.

Alongside austerity measures such as cuts to public sector pay and a freeze on state pensions, why not sell a few uninhabited islands or ancient artefacts, asked Josef Schlarmann, a senior member of Angela Merkel's Christian Democrats, and Frank Schaeffler, a finance policy expert in the Free Democrats.

The Acropolis and the Parthenon could also fall under the hammer, along with temptingly idyllic Aegean islands still under state ownership, in a rush to keep bankruptcy at bay.

"Those in insolvency have to sell everything they have to pay their creditors," Schlarmann told Bild newspaper. "Greece owns buildings, companies and uninhabited islands, which could all be used for debt redemption."