Greece Ready To Start Selling Its Islands

Tyler Durden's picture

A year ago the mere mention of Greece selling its real estate, let along its prized islands, was enough to fill Syntagma square with tear gas, laser light pointers and the occasional riot dog. Now - nobody cares, which is why the statement by Greek PM Samaras that he is ready to start selling Greek islands was largely met with a yawn across the investing world.

From AP:

Afraid of investing in Greek bonds? Invest in a Greek island instead.


Greece’s prime minister is quoted Thursday in an interview in France’s Le Monde as saying the government could cash in on uninhabited islands.


Antonis Samaras said investment is key to reviving the economy, and that privatization plans include selling railways and a part of the Attica coast.


Asked if the government is ready to sell uninhabited islands too, he said, ‘‘as long as this doesn’t pose problems for national security, some of these isles could have a commercial use.’’


He didn’t elaborate or say the government would sell the islands altogether: ‘‘This is not, in any way, about selling them off for cheap, but about transforming unused terrain into capital that could generate revenue, at a fair price.’’

Of course, nobody in their right mind will "buy" a Greek island for three reasons:

  1. Said island will soon be used as secret collateral for loans to the ECB and Germany, meaning there will be no equity value left for the "buyers"
  2. "Buyers" can't take it with them, and
  3. All island sales will be promptly re-nationalized when the opposition takes control of government in the next election in a few months, kicking Greece out of the Euro, and declaring all previous "deals" null and void, just before it announces Odious debt means all Greek debt is also null and void.

And to think all of this could have been avoided if Greece simply collected taxes....

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LawsofPhysics's picture

Hedge funds already buying.

GetZeeGold's picture



The plane....the plane!!!!


Jon Corzine.....welcome to Fantasy Island. Be careful.....don't step on the midgets.

malikai's picture

Yea, that makes complete sense. Let's do a little political math here shall we?


  1. Greece is in cripling debt.
  2. Greece's government is the weakest it has been in decades.
  3. Greece's "Socialist Worker's" party is taking over the public's view.
  4. Greece is facing expulsion/exit from the Euro, meaning hyperinflation is just around the corner.

What does all that add up to? Simple.

Nationalization/Repatriation of assets is just a few steps down the line!

Enjoy your island, for however long it lasts.

Jay Gould Esq.'s picture

Francisco Scaramanga bidding against Dr. No, for a piece of uninhabited rock in the Aegean...

Indeed, that's what makes a market.

hannah's picture

i guess you didnt hear...dr no defaulted on his teaser rate arm and lost his criminal lair. scaramanga lost all his money in the aig crash.

blueRidgeBoy's picture

and the Golden Gun was rehypothecated...

Precious's picture

A new homeland for rabbit juice.  Problem solved.

The Big Ching-aso's picture



I heard the sale of Lesbos smells fishy.


fourchan's picture

the bankers have sofened up the greeks according to plan, now the debts will be paid,

and not with fiat money. this exposes the evil of fiat money regimes.

NotApplicable's picture

Fuck You, Malakas!

-- Mr. Panos

Turin Turambar's picture

"The Golden Gun is not really a gun."

Ben Bernanke

monoloco's picture

All this could have been avoided if Greece would have just said no to the neo-liberal, nnew world order debt slavers.

financial apocalyptic contagion's picture

yea wtf Tyler

"And to think all of this could have been avoided if Greece simply collected taxes"

Fuck taxes, it's a citizens duty to try and not to pay taxes just as it is a POW's duty to escape

blame the govt

Freddie's picture

You also have all the unionized govt workers who need to keep getting their money.   This Europe problem is largely a bailout of pubic sector (unionized0 govt workers and illegal alien/asylum seekers who have bankrupted western europe.

See the same Obama funneling money to California, Illinois, Detroit, UAW and other lib shitholes plus Fisker, Solyndra, Corzine and the list goes on.  This is where the TARP money and trillions more have gone to.  

kridkrid's picture

Some of my "tuned in" friends have recently relocated to Central and South America.  When I run through scenarios and possible outcomes, I keep coming up with everything that they are investing in (land, really) being repatriated at some point.  And when 100% of America is blamed for what the global banking cabal has created, I'm not so sure I would want to be standing on that repatriated land speaking my second language.

Precious's picture

You could always go somewhere too far away for anyone to even give a shit.

kridkrid's picture

“The technetronic era involves the gradual appearance of a more controlled society. Such a society would be dominated by an elite, unrestrained by traditional values. Soon it will be possible to assert almost continuous surveillance over every citizen and maintain up-to-date complete files containing even the most personal information about the citizen. These files will be subject to instantaneous retrieval by the authorities.” - Zbigniew  Brzezinski

UncleFurker's picture

Those islands run by an ex-futures-trader who is planning to sell all it's assets off?


sessinpo's picture

So to make things interesting, let's hope China buys the islands. We all know China shakes in their boots when thinking of dealing with the great undefeatable Greece military. (sarc)

AlphaDawg's picture


What is the best country to go to? And what trade is best?

The jobs are dropping in my country atm

Need a getaway plan



Mentaliusanything's picture

I hear tell that a leaky boat from Indonesia will get you a place in the sun, downunder. Many have tried and many have died. But Fuck me the Freebees are heaven on a stick. Its all free, house, education , cigarettes, language courses cell phones... et all

I paid a lot of money in tax to make it so..... so make my day. (day starts at 4.30am and ends ... fuckit its 12,06am ESDT. come on fucker I can afford at least a Zero hedger more to balance the losers Im feeding.

PS your Welcome if you can speak FUCKING ENGLISH ( it appears so)

AlphaDawg's picture

So you reckon Austraia man? Weather does look nice.

Interesting choice, not looking for freebies though, paying some crazy taxes right here so that wont make much difference.

What kind of high paid work?

Banking? Accountancy?


ItsEvolutionBaby's picture

just don't come by boat

the ones that come by boat are always in the press because it is used as a wedge political point by our party (yes not plural, we're ruled just like the Americans, statist nanny state style fascists)

grab a visa any way you can and fly in, and let it run out

Australia is fully fucked by cultural marxism, we're just not as far down the line as everyone else

tick tock on the housing bubble and end of the mining boom

tick tick tock tick tock 

Anusocracy's picture

Spent 21 months riding a bicycle around Australia.

Felt so damn comfortable there.

Turin Turambar's picture

Peru has come a long way in the last 10 years.  The economy is booming, and my best investments are there; unfortunately, the recent elections resulted in a dumbass lefty buddy of Chavez winning, so who knows now.  I'm in the process of liquidating.  :-(

Terminus C's picture

Alberta. Jobs, growth and lots of arable land. Water is a bit of an issue in the south.

Of course... It is all oil sands driven... environmental clusterfuck and economically fragile.

The population is more libertarian than most in Canada...

vast-dom's picture

also Greece did not disclose that PROPERTY TAX for said Islands is 3x purchase price, per month!

LongSoupLine's picture
 Dimon Island!

NotApplicable's picture

Nah, he's gonna go for a populated one. Soros too!

Mentaliusanything's picture

Well now that was the plan all along. Now FUCK OFF this is a Private beach..... Bitches

LongSoupLine's picture



Buy a Greek Island?!?!  Shit, why do that when I have access to these fucking awesome California muni bonds!!

Antifaschistische's picture

BINGO!!! LawofPhysics..

Step #1:   Sell the islands to Central Bankers and their recipient parasites

Step #2:   In 12 years, invoke eminent domain for strategic purposes and retake the islands.

That's the cycle of economic life.

battle axe's picture

Hello Turkey we have some real estate to show you, I think you are familiar with it....

Son of Loki's picture

I'll take can have the rest.

blueRidgeBoy's picture

you may want Lesbos, but they don't want you

kridkrid's picture

I like to watch. - Chauncy Gardner

10mm's picture

Ahhh bi sexual chicks for 100 Alex.

PaperBear's picture

Everybody in Greece is already dead.

realtick's picture

Throw in a young Daryl Hannah and we've got a deal.

Mentaliusanything's picture

Hey Loser ... she past you by on the beach a long time ago. ....Grow the fuck up

hannah's picture

daryl hannah is just your basic pleasure model...for off colony or little greek islands.

blueRidgeBoy's picture

Bladerunner refs always get +1

Dr. Engali's picture

Hey Greece I have a better idea,,,,,,default and get it over with.

GetZeeGold's picture



Go north Iceland!!!


resurger's picture

Belize has a giant water black hole

timbo_em's picture

That would be way to easy and it would take all the entetainment away.

midtowng's picture

And to think of the hundreds of thousands of Greeks who have fought wars and died to protect those islands from being taken by foreigners.

gookempucky's picture

Should show up in the Thrifty Nickel anyday now.