Thursday, June 21, 2012

Greece Sells Assets, Including Island Resorts, Planes, Highways, Buildings To Pay Down Debt


Fire sale: Yet despite Greece's best efforts, some analysts don't think the properties -- even those as luxurious as Astir Palace -- will sell. “On the downside," Prestige Property Group broker Mike Braunholtz told Bloomberg, "the whole world has its eyes on Greece and it would be considered a very risky environment to invest in until there is more clarity whether you’d be buying in euros, dollars or drachma.”

Read it at The Huffington Post
Greece Sells Assets, Including Island Resorts, Planes, Highways, Buildings To Pay Down Debt
by James Sunshine | The Huffington Post

The Big Ripoff continues, brought to you by neoliberalism.

And if Greece is going to sell assets, it should sell all the military hardware it bought from Germany.


4 comments:

TheArmoTrader said...

Hey guys, I had a Guest post over at another blog talking about Fiscal vs Monetary Policy...Thought you'd be interested.
http://www.smbtraining.com/blog/the-truth-about-our-economy

Tom Hickey said...

Thanks, Jerry. I'll post a link.

Unforgiven said...

There you go. Angela was just a broker all along. The vultures continue to Merkel overhead...

David said...

There has been a meme lately, pushed by the Germans, that Greece has already had "a hundred Marshall Plans." Wrong. Greece has mainly been granted just enough liquidity to go on paying the bankers. There was a good article in The Economist which shows that Greece has had nothing of the nature of a real Marshall Plan:
http://www.economist.com/blogs/freeexchange/2012/06/economic-history?fsrc=gn_ep.
The most significant thing about the Marshall Plan was that it functioned as a debt jubilee. Now, it's easy to see why the neo-liberals would be confused as the concept of a debt jubilee goes against the grain of their whole worldview.