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Response to caseymoz (Reply #14)

Tue Jan 24, 2012, 05:32 PM

20. Also in the interest of the wealthy to buy public assets now privatized as part of austerity

You can just see the drooling in articles like this:

http://online.wsj.com/article/SB10001424052702304563104576357240646607566.html

JUNE 1, 2011

Want to Buy a Piece of a Greek Island?


Now might be your chance to buy that portion of a Greek island you have been coveting.

As part of Greece's privatization plan to raise cash to reduce its mountain of debt, the national government is preparing to sell as much as 30 billion ($42.9 billion) of public property. It is still early in the process, but future sales are likely to include assets ranging from the government's stake in the Mont Parnes Casino resort in Athens, hotels, and even a concession to develop a luxury resort with a world-class golf course on the island of Rhodes.

The Hellenic Public Real Estate Corp., the government body that manages public property, has a list of about 75,000 individual government-owned properties. The corporation has appointed National Bank of Greece SA to lead a consortium of advisers who are now preparing to sell an initial portfolio of 20 to 30 properties, the first of which could be put on the market in the next few months, according to Aristotelis Karytinos, general manager of the real-estate division at National Bank of Greece.

The International Monetary Fund, in its latest report on Greece, estimates that as many as 15 billion could be raised through real-estate sales. Mr. Karytinos says expected proceeds from property sales or leasing is now estimated at between 15 billion and 30 billion. The first step is to sift through the long list of public property, identify the best real estate, and resolve any legal issues to ensure that the property is able to be fully developed by investors.




And agree that your post would be a good OP.

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Arrow 29 replies Author Time Post
muriel_volestrangler Jan 2012 OP
dipsydoodle Jan 2012 #1
caseymoz Jan 2012 #2
dipsydoodle Jan 2012 #3
JDPriestly Jan 2012 #6
caseymoz Jan 2012 #13
JDPriestly Jan 2012 #18
caseymoz Jan 2012 #29
muriel_volestrangler Jan 2012 #5
dipsydoodle Jan 2012 #8
Demeter Jan 2012 #7
The2ndWheel Jan 2012 #10
dixiegrrrrl Jan 2012 #11
magical thyme Jan 2012 #12
NickB79 Jan 2012 #21
caseymoz Jan 2012 #4
JDPriestly Jan 2012 #9
caseymoz Jan 2012 #14
JDPriestly Jan 2012 #15
LineLineLineLineNew Reply Also in the interest of the wealthy to buy public assets now privatized as part of austerity
suffragette Jan 2012 #20
caseymoz Jan 2012 #23
suffragette Jan 2012 #25
caseymoz Jan 2012 #28
carla Jan 2012 #17
caseymoz Jan 2012 #26
carla Jan 2012 #16
muriel_volestrangler Jan 2012 #19
carla Jan 2012 #24
caseymoz Jan 2012 #27
Vidar Jan 2012 #22
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