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Germans tell Greece to sell islands to pay off debt

Friday 5th March 2010

By Mike Jones

The row between Germany and Greece over its debt crisis has intensified after two German politicians said it should consider a fire sale of land, historic buildings and art works.

Why not sell a few uninhabited islands or ancient artefacts, asked Josef Schlarmann, a senior member of Angela Merkel's Christian Democrats, and Frank Schaeffler, a finance policy expert in the Free Democrats.

The Acropolis and the Parthenon could also be up for grabs to stave off bankruptcy.

"Those in insolvency have to sell everything they have to pay their creditors," Schlarmann told Bild newspaper. "Greece owns buildings, companies and uninhabited islands, which could all be used for debt redemption."

Are they right? Have your say using the comment section below

View Comments 16 comments

Posted By Adrian Blake on Thursday 11th March 2010 05:58:36
Germany Calling! Germany Calling! Ve Vill use Fiat money to buy Greece.

Posted By eurgh on Sunday 7th March 2010 09:48:35
@Mike Pegg Are they really "ours" though? They have their own populations for one; and secondly they are well known havens for criminal money-laundering to the extent that we had to intervene with the local T&C govt; people like Lord Ashcroft obtain various categories of tax residency; or become financial burdens inthemselves due to volcanic eruptions - all amounting to more expense and unwanted immigration. You think racketeers aren't already in control in T&C or Caymans?! @D Imbiss Actually, it would make a lot of sense for Greece to lease some islands to Germany on similar terms as Hong Kong was leased to Britain. The benefit for the German people would be a holiday destination catering precisely for their needs; and for the Greek people a properly organised and functioning part of their country to look forward to inheriting. For the respective governments, the German government would gain favour by being seen as being pragmatically supportive to a fellow EU state; and obviously, the Greeks get their debt down. Could be a win-win... Voluntary-Colonialism is a potentially attractive model for many developing-developed state partnerships; indeed it's almost happening in other places: Thailand-Japan; Korea-Vietnam... and maybe Norway-Iceland eventually!

Posted By D Imbiss on Saturday 6th March 2010 02:26:31
Okay, the Germans have Islands as well, so they could do likewise. Greece could sell the islands to Germany, freehold only. That way Greece retains soverigen rights, and any money sent there has to remain in Greece. Then they could nationise any business developed there followed by a land composary purchase scheme. Come on Germany, dont get upset that everyone else is putting their towels out on the sun loungers the night before!! Get a life!!

Posted By mike pegg on Saturday 6th March 2010 01:51:50
we should not sell our islands the carribean islands Turks and Caicos are wonderfull the Jamacans are now running their island downhill cruise ships avoided this island for awhile and I can see why you have to pay to enter a fenced of and razor wired beach area intimidation on the streets drug pushers abound we brits deliver a safe evironment here in our controlled or influenced areas and I bet the same goes for the greeks islands sell them off and the other jewels and what you get are racketers taking over same thing happened with our water,gas,electric and telephones didn't work out to well for JOE public

Posted By David T on Friday 5th March 2010 12:59:46
What cheek from the Germans! According to ecommercejournal.com Germany’s debt may rise beyond 2 trillion euros ($ 2.8 trillion) by 2013, the end of the next government’s term, as borrowing surges amid the deepest economic crisis since World War II, the Finance Ministry said. The federal government, the 16 states, cities and towns plan to borrow around 509 billion euros through 2013, ministry documents published in Berlin today show. Germany’s debt will increase to 82 percent of gross domestic product from 65.9 percent last year, violating European Union rules. So may be Germany should try selling off West Germany, all West Germans to go and live in East Germany because who on earth would want to buy East Germany!!!

Posted By Andrew on Friday 5th March 2010 12:56:48
I agree. We could be next and neither Brown or Cameron want to give us a referendum on EU membership. Scary!

Posted By Chris McG on Friday 5th March 2010 12:52:15
Incredible - only the Germans could seriously suggest this! Next they will be suggesting we sell off our assets too. Of course, they don't have any islands so not a problem for them.

Posted By chris on Friday 5th March 2010 12:46:52
In which case, maybe they should also pay for East Germany when it was given back to them?

Posted By Tom Anderson on Friday 5th March 2010 12:46:51
What a woderful idea, do they have any islands worth buying! Ireland could be next, the us, if we don't get rid of Brown and his cronies. Two new states of the USA beckon!

Posted By AGW Denier on Friday 5th March 2010 12:34:42
This is the EU stealing Greece's history ..

Posted By Quentin on Friday 5th March 2010 07:14:08
It saves the Germans invading!

Posted By Greger on Friday 5th March 2010 06:40:53
Well, selling islands can be done - but suggesting that the Partenon should be sold off indicates that it should be taken as a joke... (Altough, maybe, British Museum could buy the rest? They already have some of the better pieces....)

Posted By cosmas on Friday 5th March 2010 03:01:13
I really enjoyed the comments of all you! As a Greek I was shocked by the suggestion, but your comments realy helped!

Posted By eurgh on Friday 5th March 2010 02:29:01
@Chris McG Actually they do have islands... the North Frisian Islands, some Islands off the Pomeranian/Baltic north coast; and Heligoland in the North Sea, that used to belong to us. I think we might want to consider selling off some of our islands... we could get a good price for Dominica or Anguilla in the Caribbean... what about the Cayman Islands?! Full of hedge funds... it would be both poetic justice and quite sensible, considering that many of these places - Turks & Caicos for instance have become liabilities in so many ways.

Posted By Bill on Friday 5th March 2010 01:35:12
I think these comments are in response to a suggestion that Germany should bail out Greece

Posted By Michael Thompson on Friday 5th March 2010 01:30:06
Josef Schlarmann is a dog. I suppose he will sell his Mother if he is in trouble.