Topic: Sovereign Debt- Want To Buy A Greek Island?

German politician Josef Schlarmann says Greece should sell some of their 6000 islands, of which only 227 are inhabited. The Greeks are of course not too found of the idea. What do you think? Should Europe start selling off bits and pieces to the Republic of China?

“We give you money. You give us Corfu.”

Bild

Greece could sell some of its islands to raise money to pay off its debt is, several members of the German parliamentarians thinks. “Those that are insolvent must sell everything they have to pay creditors. Greece owns the buildings, businesses and uninhabited islands that could be sold to pay debts,” German politician Josef Schlarmann says.

Schlarmann is a member of the ruling party CDU, and his view is being supported by Frank Schäffler, a financial expert in the Free Democratic Party, who also believe that Greece should also sell the famous Acropolis.

According to the newspaper Bild, another politician, Marco Wanderwitz, believe Greece can give Germany a few islands as collateral for their financial aid, the Norwegian news agency NTB report.

“We give you money. You give us Corfu,” the German newspaper writes in a comment.

As Germany are just starting to recover from the financial crisis, most Germans are frustrated and annoyed that the German taxpayers may have to rescue Greece after years of irresponsible economic policies.

The Greek Prime Minister George Papandreou is coming to Berlin, Friday, to discuss the situation with Chancellor Angela Merkel after the Greek government Wednesday approved new harsh emergency measures.

Vice Foreign Minister Dimitris Droutsas is not impressed with the proposal to sell some of the 6 000 Greek islands, of which only 227 are inhabited.

“I have heard the proposals. Such proposals are not appropriate at this time,” he told the German television channel ARD television.

What do you think?


Should a bankrupt state be able to sell off land to pay their debt?
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