With Greece facing an intense financial crisis and possible countrywide bankruptcy, Germany has suggested that some of their islands may be the answer.
On Thursday, Josef Schlarmann, a Senior Member of Merkel’s Christian Democrats, and Frank Schaeffler, a Finance Policy Expert in the Free Democrats, stressed that selling of islands and other similar assets might just be the way Greece should take to climb out of the debt and deficit crisis it is facing.
“Those in insolvency have to sell everything they have to pay their creditors. Greece owns buildings, companies and uninhabited islands, which could all be used for debt redemption”, said Mr. Schlarmann.
A legisltator in Chancellor Angela Merke;s conservative CDU party, Marco Wanderwitz, said Athens should provide ‘collateral for any money it receives from the European Union to help it out of its debt crisis – in this case, certain Greek islands also come into question.’
‘We give you cash, you give us Corfu!’ said the racy Bild national newspaper in a tone which many suspect was only half in jest.
It has also been suggested that all money given by the EU should be placed directly into securing the gap made by the massive debt Greece has acquired since 2006.
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