Nearly four years ago, the German tabloid Bild suggested that, in return for the European Union bailout, Greece should sell off the Acropolis and some islands, including Corfu. Everyone laughed.
And yet now it is happening. Greece is called to develop a significantly scaled up privatization program demanded by its eurozone and IMF creditors. “valuable Greek assets” will be transfered to “an independent fund” that “will monetize the assets” for bank recapitalization, loan repayment, decreasing the debt to GDP ratio, and investment.
This is the list of assets on sale according to a new article published by Bild:
- Marinas including the marina of Epidaurus and of the island of Hydra
- Stakes in Piraeus and Salonika ports (worth an estimated €600 million)
- 14 regional airports, including the airports of Rhodes, Corfu and Cos (worth an estimated €1.3 million)
- Beaches, such as Hermione beach in the Peloponnese
- 2 Airbuses (worth €10 million.)
- 2,500 buildings under state ownership, including property abroad (such as real estate in Washington D.C. and New York)
- Thermal springs
- Stadiums and venues of the 2004 Olympic Games, such as the Galatsi Olympic Center
- Hotels
- The former US military base of Heraklion in Crete
Greece must also sell the state's remaining shares in the electricity transmission network operator (ADMIE) and in the dominant telecommunications provider (OTE). The bailout agreement also includes privatization of 77,332 of acres of public land, including gold mines worth an estimated €10 billion.
The Build suggests that temptingly idyllic Aegean islands, still under state ownership, could also fall under the hammer in a rush to keep bankruptcy at bay.
US tycoon Warren Buffett and Hollywood actor Johnny Depp are the latest adds to a long line of wealthy businessmen and stars who have purchased Greek islands.
Buffet along with Italian millionaire Alessandro Proto, a shareholder of the New York Times newspaper, bought the island of St Thomas, which covers an area of 1.2 sq km, in the Gulf of Aegina near Athens. The acquisition was concluded last week for €15 million. Johnny Depp became the owner of a small islet named Strongylo for €4.2 million.
Among the celebrities who have also expressed interest in buying a Greek island this summer are Hollywood stars Brad Pitt and Angelina Jolie, who are reportedly preparing to buy the Greek island of Gaea located in the Echinades complex in the Ionian Sea.