Greece ponders plan to sell off nearby islands to stave off bankruptcy
Greek Prime Minister says plan must not pose security threat to nation
The nation of Greece has largely been blamed for setting off the current
eurozone crisis. The cash-strapped nation has sent other countries
seeking bankruptcy protection, prompting drastic austerity measures
across the continent. Now, Greece is considering selling the 6,000
uninhabited islands along its shoreline in a bid to inject cash into
Greek Prime Minister Antonis Samaras met Eurozone boss Jean-Claude Juncker this week, warning him that Greece now has a 'last chance' to get his country's finances in order.
"On condition that no national security problem is posed, some of the islands could be used commercially," the prime minister told newspaper reporters.
"It would not be a case of getting rid of the islands, but of transforming unused terrain into capital that can generate revenue, for a fair price."
Samaras argued that attracting foreign investment is crucial to reviving the Greek economy, adding that sections of Greece's Attica coast to the east of Athens may also be attractive to private buyers.
Under the proposal, developers would lease the land for a period of decades and build houses and hotels. The proposal comes as Athens has begun pleading with eurozone leaders for more time to implement an austerity program.
Greece in theory was supposed to be making radical cuts in exchange for two huge bailouts from the eurozone and the International Monetary Fund, worth nearly £200 billion.
Samaras met Eurozone boss Jean-Claude Juncker this week, warning him that Greece now has a "last chance" to get his country's finances in order.
Samaras will also meet in Berlin with Chancellor Angela Merkel, whose political allies are balking at the idea of giving Greece even more time or more money.
Several senior German politicians have indicated that they do not think a Greek withdrawal from the single currency would sink the euro.
© 2012, Catholic Online. Distributed by NEWS CONSORTIUM.
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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.
Keywords: Greece, bankruptcy, eurozone, islands, sale
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