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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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Thu, 08/23/2012 - 09:45 | 2730005 LawsofPhysics
LawsofPhysics's picture

Hedge funds already buying.

Thu, 08/23/2012 - 09:49 | 2730019 GetZeeGold
GetZeeGold's picture



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


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

Thu, 08/23/2012 - 09:54 | 2730048 malikai
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.

Thu, 08/23/2012 - 10:03 | 2730093 Jay Gould Esq.
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.

Thu, 08/23/2012 - 10:11 | 2730130 hannah
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.

Thu, 08/23/2012 - 10:14 | 2730143 blueRidgeBoy
blueRidgeBoy's picture

and the Golden Gun was rehypothecated...

Thu, 08/23/2012 - 10:31 | 2730203 Precious
Precious's picture

A new homeland for rabbit juice.  Problem solved.

Thu, 08/23/2012 - 10:42 | 2730226 The Big Ching-aso
The Big Ching-aso's picture



I heard the sale of Lesbos smells fishy.


Thu, 08/23/2012 - 11:46 | 2730475 fourchan
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.

Thu, 08/23/2012 - 12:08 | 2730558 NotApplicable
NotApplicable's picture

Fuck You, Malakas!

-- Mr. Panos

Thu, 08/23/2012 - 12:20 | 2730635 Turin Turambar
Turin Turambar's picture

"The Golden Gun is not really a gun."

Ben Bernanke

Thu, 08/23/2012 - 10:04 | 2730096 monoloco
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.

Thu, 08/23/2012 - 10:21 | 2730168 financial apoca...
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

Thu, 08/23/2012 - 12:11 | 2730573 Freddie
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.  

Thu, 08/23/2012 - 10:17 | 2730160 kridkrid
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.

Thu, 08/23/2012 - 10:37 | 2730215 Precious
Precious's picture

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

Thu, 08/23/2012 - 11:11 | 2730355 kridkrid
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

Thu, 08/23/2012 - 13:22 | 2730900 BattlegroundEur...
BattlegroundEurope2011's picture


Thu, 08/23/2012 - 19:41 | 2732112 UncleFurker
UncleFurker's picture

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


Thu, 08/23/2012 - 10:21 | 2730173 sessinpo
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)

Thu, 08/23/2012 - 09:55 | 2730057 AlphaDawg
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



Thu, 08/23/2012 - 10:10 | 2730122 Mentaliusanything
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)

Thu, 08/23/2012 - 10:20 | 2730165 AlphaDawg
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?


Thu, 08/23/2012 - 11:02 | 2730314 ItsEvolutionBaby
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 

Thu, 08/23/2012 - 14:56 | 2731303 Anusocracy
Anusocracy's picture

Spent 21 months riding a bicycle around Australia.

Felt so damn comfortable there.

Thu, 08/23/2012 - 12:23 | 2730649 Turin Turambar
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.  :-(

Thu, 08/23/2012 - 13:49 | 2731034 Terminus C
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...

Thu, 08/23/2012 - 10:00 | 2730077 vast-dom
vast-dom's picture

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

Thu, 08/23/2012 - 10:17 | 2730157 LongSoupLine
LongSoupLine's picture




Welcome...to Dimon Island!

Thu, 08/23/2012 - 12:10 | 2730570 NotApplicable
NotApplicable's picture

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

Thu, 08/23/2012 - 10:00 | 2730079 Mentaliusanything
Mentaliusanything's picture

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

Thu, 08/23/2012 - 10:20 | 2730167 LongSoupLine
LongSoupLine's picture



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

Thu, 08/23/2012 - 10:25 | 2730182 Antifaschistische
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.

Thu, 08/23/2012 - 11:27 | 2730413 battle axe
battle axe's picture

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

Thu, 08/23/2012 - 09:47 | 2730014 Son of Loki
Son of Loki's picture

I'll take Lesbos...you can have the rest.

Thu, 08/23/2012 - 10:17 | 2730154 blueRidgeBoy
blueRidgeBoy's picture

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

Thu, 08/23/2012 - 10:26 | 2730184 kridkrid
kridkrid's picture

I like to watch. - Chauncy Gardner

Thu, 08/23/2012 - 11:40 | 2730451 10mm
10mm's picture

Ahhh bi sexual chicks for 100 Alex.

Thu, 08/23/2012 - 09:47 | 2730016 PaperBear
PaperBear's picture

Everybody in Greece is already dead.

Thu, 08/23/2012 - 09:50 | 2730021 realtick
realtick's picture

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


Thu, 08/23/2012 - 10:13 | 2730140 Mentaliusanything
Mentaliusanything's picture

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

Thu, 08/23/2012 - 10:15 | 2730147 hannah
hannah's picture

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

Thu, 08/23/2012 - 10:18 | 2730159 blueRidgeBoy
blueRidgeBoy's picture

Bladerunner refs always get +1

Thu, 08/23/2012 - 09:50 | 2730027 Dr. Engali
Dr. Engali's picture

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

Thu, 08/23/2012 - 09:58 | 2730069 Sauk Leader
Sauk Leader's picture

Or do both, Like Belize!

Thu, 08/23/2012 - 10:00 | 2730078 GetZeeGold
GetZeeGold's picture



Go north lads......to Iceland!!!


Thu, 08/23/2012 - 10:02 | 2730085 resurger
resurger's picture

Belize has a giant water black hole

Thu, 08/23/2012 - 10:03 | 2730091 timbo_em
timbo_em's picture

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

Thu, 08/23/2012 - 09:50 | 2730028 midtowng
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.

Thu, 08/23/2012 - 09:50 | 2730031 gookempucky
gookempucky's picture

Should show up in the Thrifty Nickel anyday now.

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