Posts Tagged ‘ Leasing islands ’

Selling off Greek Islands

Mar 8th, 2010 | By

In Greece, there have been cries of outrage at the suggestion by some German parliamentarians that they sell off some of the Greek islands. The money raised from the sale, goes the suggestion, would reduce the large economic deficit that the country has. As there are about 6,000 Greek islands and only about 80 are inhabited, there remain a huge number which make no contribution to the Greek economy.
Is this such a bad idea?
There are islands in the Caribbean that have been sold and then developed for tourism. In the Maldives, islands are co-developed for tourism with the locals and the state receiving taxation. And there seems to be a ready market for people to buy islands so here is a slight alteration to the idea. The attraction of the Greek islands for tourists has existed for centuries.