Greece starts putting island land up for sale to save economy

Posted by Kendall Harmon

There's little that shouts "seriously rich" as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay brothers prefer Brecqhou in the Channel Islands, while Aristotle Onassis married Jackie Kennedy on Skorpios, his Greek hideway.

Now Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts.

The Guardian has learned that an area in Mykonos, one of Greece's top tourist destinations, is one of the sites for sale. The area is one-third owned by the government, which is looking for a buyer willing to inject capital and develop a luxury tourism complex, according to a source close to the negotiations.

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Filed under: * International News & CommentaryEuropeGreece

1 Comments
Posted June 25, 2010 at 8:00 am [Printer Friendly] [Print w/ comments]



1. New Reformation Advocate wrote:

Humiliating as it might be for the Greeks, the idea of long-term leases of some of those lovely islands actually sounds pretty sensible.  But just gaining the infusion of cash won’t be enough by itself.  The people still have to come to terms with the fact that drastic cuts in government spending remain necessary.  The party’s over.  And that’s a tough pill to swallow: for an individual, a family, or for a nation.

David Handy+

June 25, 2:28 pm | [comment link]
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