Vladimír Urbánek (Kurzy.cz)
Markets  |  September 12, 2012 09:35:55

Greece offers a long-term lease 40 islands

Greece via Hellenic Republic Asset Development Fund, similar to former Czech National Property Fund offers long-term 30-50letému lease 40 uninhabited islands and islets in order to raise funds for the necessary reduction of high debt. The Fund should get to 2020 about 50 mld.EUR the conditions for the provision of foreign aid.

Identifying the islands are stretches from 500 000 to 3 million square meters and can be used for example to build a luxury tourist resorts.
The actual rent will be required to prevent further legislative steps to allow this. Sale of state land abroad in Greece is quite a thorny issue, because in Greece in 1996 came almost to a state of war with Turkey for the mutual property rights to the Isle of Imia / Kardak in the Aegean Sea.

Greece still managed to sell state assets to get only 1.8 mld.EUR, triggering a wave of criticism from the EU. Under the current plan, the Fund's sales increase to 19 mld.EUR the end of 2015 real and workable.
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