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Thread: Germany Wants Greece To Sell Off Its Islands In Return For Cash

  1. #1

    Germany Wants Greece To Sell Off Its Islands In Return For Cash

    What does Germany lack? Great Mediterranean beaches.


    Perhaps that's the motivation behind a German MPs suggestion that Greece sell some of its islands for cash before asking for freebie European handouts.



    Bloomberg:

    “A bankrupt party must use everything he has to make money and serve his creditors,” said Josef Schlarmann, a member of Chancellor Angela Merkel’s Christian Democratic Union, who heads a lobby representing 40,000 business owners and managers allied to the party.

    “Greece owns buildings, companies and several uninhabited islands, which can now be used to repay debt.” Greece must “radically part with company shares and also sell property, for example uninhabited islands,” said Frank Schaeffler, financial expert of Germany’s Free Democratic Party

    http://www.businessinsider.com/germa...bailout-2010-3



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  3. #2
    There was a time when I would have said "Yeah, like that's gonna happen," but now I'm not so sure.

  4. #3
    Greeks are very proud of their country. I would be VERY surprised to see them sell part of their country.
    Insanity should be defined as trusting the government to solve a problem they caused in the first place. Please do not go insane!

  5. #4
    Chester Copperpot
    Member

    Quote Originally Posted by TonySutton View Post
    Greeks are very proud of their country. I would be VERY surprised to see them sell part of their country.
    agreed... one can only hope they will decide to leave the EU instead

    let them go to printing their own drachma.

  6. #5
    Quote Originally Posted by Mike Mitrosky View Post
    agreed... one can only hope they will decide to leave the EU instead

    let them go to printing their own drachma.
    Nobody can leave the EU. It would be a economic disaster. Basically prices would skyrocket.

  7. #6
    One Greek island to go, please.
    Liberty is for all; privileges are for none.

  8. #7
    Could you imagine the US selling California to China or North Carolina to the IMF.

    What of the Greeks who live on the Island who are proud to be Greeks!? Do they have a say on whether to remain Greeks or become Germans? This is insane!

    I never thought I would contemplate this, but since we may be as bad off as the Greeks: We need to think of what we will do as Americans when it is our turn to be sold.

  9. #8
    I'm not sure they are talking about selling the islands to another nation, but to private parties such that they are still a part of Greece. Lots of people are willing to pay a lot of money to own a private island. It would be more like the US closing national parks and selling the land for development. This is ALWAYS a good idea.



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  11. #9
    Quote Originally Posted by RJB View Post
    Could you imagine the US selling California to China or North Carolina to the IMF.

    What of the Greeks who live on the Island who are proud to be Greeks!? Do they have a say on whether to remain Greeks or become Germans? This is insane!

    I never thought I would contemplate this, but since we may be as bad off as the Greeks: We need to think of what we will do as Americans when it is our turn to be sold.
    No. I can not imagine the IMF being interested in a piece of land. However, I think the IMF is very interested in having a monopoly control of the currency. I can see the USA selling monopoly rights over the USA currency to the IMF.

  12. #10
    Greece needs to leave the EU and start their own currency. In addition to that they should cut taxes and spending by more then half.
    "They that can give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety."
    -Benjamin Franklin

  13. #11
    Quote Originally Posted by TonySutton View Post
    Greeks are very proud of their country. I would be VERY surprised to see them sell part of their country.
    I didn't meant there wouldn't be anger from the populace, but it only takes corrupt leadership 1 term to do things like this.

  14. #12
    Some of my best memories are from my trip to Greece and some of her Islands. 18 years old, clubs every night, topless beaches all day

  15. #13
    HEY germany, GET $#@!ED!

  16. #14
    Quote Originally Posted by wharfrat View Post
    Some of my best memories are from my trip to Greece and some of her Islands. 18 years old, clubs every night, topless beaches all day
    Hmmm....Deals there now.....
    "Liberty lies in the hearts of men and women; when it dies there, no constitution, no law, no court can save it; no constitution, no law, no court can even do much to help it."
    James Madison

    "It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams



    Μολὼν λάβε
    Dum Spiro, Pugno
    Tu ne cede malis sed contra audentior ito

  17. #15
    Quote Originally Posted by tmosley View Post
    I'm not sure they are talking about selling the islands to another nation, but to private parties such that they are still a part of Greece. Lots of people are willing to pay a lot of money to own a private island. It would be more like the US closing national parks and selling the land for development. This is ALWAYS a good idea.
    This.

  18. #16
    Quote Originally Posted by RJB View Post
    Could you imagine the US selling California to China or North Carolina to the IMF.

    What of the Greeks who live on the Island who are proud to be Greeks!? Do they have a say on whether to remain Greeks or become Germans? This is insane!

    I believe they are referring to uninhabited islands so no one is in risk of loosing their home.
    Liberty is for all; privileges are for none.



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  20. #17
    I would bet good money the FED helped to bail them out.
    In 200 years the American people have replaced 1 dictator 3,000 miles away with 3,000 dictators 1 mile away.


    It is the first responsibility of every citizen to question authority.--Benjamin Franklin

    No man's life, liberty or fortune is safe
    while our legislature is in session
    .--Benjamin Franklin

  21. #18
    Quote Originally Posted by bobbyw24 View Post
    What does Germany lack? Great Mediterranean beaches.


    Perhaps that's the motivation behind a German MPs suggestion that Greece sell some of its islands for cash before asking for freebie European handouts.



    Bloomberg:

    “A bankrupt party must use everything he has to make money and serve his creditors,” said Josef Schlarmann, a member of Chancellor Angela Merkel’s Christian Democratic Union, who heads a lobby representing 40,000 business owners and managers allied to the party.

    “Greece owns buildings, companies and several uninhabited islands, which can now be used to repay debt.” Greece must “radically part with company shares and also sell property, for example uninhabited islands,” said Frank Schaeffler, financial expert of Germany’s Free Democratic Party

    http://www.businessinsider.com/germa...bailout-2010-3
    what if america has to sell off some of our states to pay China. Hmm.

  22. #19
    Quote Originally Posted by lx43 View Post
    I would bet good money the FED helped to bail them out.
    The fed has nothing to to with Greece. and don't assume there assistance would be wanted anyway, that's what the EU is for. They need to worry about bankrupt states in the own country first, like California and Michigan.

  23. #20
    As a person of Hellenic descent, I can tell you most assurredly that they would first leave the EU then give up an inch of island. But then again, nothing seems to suprise me anymore...
    +
    'These things I command you, that you love one another.' - Jesus Christ

  24. #21
    Buy a group of islands and setup both a Liberty and Tax Free Haven sovereignty. The new Bahamas of the Mediterranean in beautiful weather/resorts/money haven. Then tell Germany/UK/US/IRS/etc, to go $#@! themselves.

    Now that's the model I would love to see!
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



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    USAF Veteran

  25. #22
    Quote Originally Posted by HOLLYWOOD View Post
    Buy a group of islands and setup both a Liberty and Tax Free Haven sovereignty. The new Bahamas of the Mediterranean in beautiful weather/resorts/money haven. Then tell Germany/UK/US/IRS/etc, to go $#@! themselves.

    Now that's the model I would love to see!

    where's our billionaire when we need em
    "Liberty lies in the hearts of men and women; when it dies there, no constitution, no law, no court can save it; no constitution, no law, no court can even do much to help it."
    James Madison

    "It does not take a majority to prevail ... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams



    Μολὼν λάβε
    Dum Spiro, Pugno
    Tu ne cede malis sed contra audentior ito

  26. #23
    Quote Originally Posted by HOLLYWOOD View Post
    Buy a group of islands and setup both a Liberty and Tax Free Haven sovereignty. The new Bahamas of the Mediterranean in beautiful weather/resorts/money haven. Then tell Germany/UK/US/IRS/etc, to go $#@! themselves.

    Now that's the model I would love to see!

    Yeah, if they go on sale we need to pool our resources and buy one. Setup a libertarian haven.

  27. #24
    as has been said before, will be said again: Μολὼν λάβε !
    +
    'These things I command you, that you love one another.' - Jesus Christ



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  29. #25
    Quote Originally Posted by RJB View Post
    Could you imagine the US selling California to China or North Carolina to the IMF.

    What of the Greeks who live on the Island who are proud to be Greeks!? Do they have a say on whether to remain Greeks or become Germans? This is insane!

    I never thought I would contemplate this, but since we may be as bad off as the Greeks: We need to think of what we will do as Americans when it is our turn to be sold.
    I have wondered what "collateral" was offered to The FED by our government to borrow all these billions.
    http://www.forbes.com/2009/02/04/tar...rtner=toprated

    Barofsky raises concerns about the potential for fraud in the program, including the fact that compliance is now limited to signed certifications. The Treasury and the Fed are working on how to strengthen fraud prevention for TALF, including screening for the pools of asset-backed securities pledged as collateral and an agreement to let the Fed inspect those who borrow in the program.

    http://www.answers.com/topic/asset-backed-security

    Banking Dictionary: Asset-Backed Securities
    Top
    Home > Library > Business & Finance > Banking DictionaryBonds or debt securities collateralized by the cash flow from a pool of auto loans, credit card receivables, vehicle and equipment leases, consumer loans, insurance policies, and other obligations. The bonds give the holder an Undivided Interest in the securitized assets, and are funded by the cash flows received by the issuer from regular payments of principal and interest from borrowers.

    The process of converting loans into marketable securities is known as Securitization. When mortgage loans, consumer loans, commercial loans, and leases are securitized, the pools of assets backing a particular issue are transferred to a Grantor Trust a passive entity that issues the securities that are purchased by investors. Virtually any debt obligation with regularly scheduled principal and interest payments can be securitized: auto loans, credit card receivables, home improvement loans, leases, residential mortgages, and second mortgages. Examples are Collateralized Auto Receivable Securities (CARS), Certificates for Amortizing Revolving Debt (Cards) and Mortgage-Backed Securities such as Collateralized Mortgage Obligations (CMOS) and Real Estate Mortgage Investment Conduits (Remics). Debt securitizing also gives lenders another source of funds for making new loans, and is a technique actively used in Asset-Liability Management. See also Asset Sales; Secondary Mortgage Market.


    Wonder exactly how all of these break down?

    Bonds or debt securities collateralized by the cash flow from a pool of auto loans, credit card receivables, vehicle and equipment leases, consumer loans, insurance policies, and other obligations.

    So, who holds the securitized debt on your vehicle? credit card recieveables? or equiptment leases? and such???

    China?
    Japan?

    anyone have a clue?

  30. #26
    How about USA selling Alaska or Hawai to CHina ,Taiwan or Japan. It is the same problem.

  31. #27
    Seasteading here we come!
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  32. #28
    Quote Originally Posted by zdenek795 View Post
    How about USA selling Alaska or Hawai to CHina ,Taiwan or Japan. It is the same problem.
    You do realize Japan has 2nd highest debt to GDP ratio (1st is Zimbabwe). Anyway China would get very little from purchasing Hawai or Alaska other than more debt.

  33. #29
    i guess we can sell back Alaska back to Russia



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