Will selling off islands and coastlines help bankrupt Greece?

Greece, which is facing a severe economic crisis and could be even booted out of the eurozone, is reportedly considering selling off some of its historic islands and coastlines.

In a desperate move to pay back some of the country’s debts, Greek Prime Minister Antonis Samaras made the extraordinary proposal, The Sun reported.

“On condition that no national security problem is posed, some of the islands could be used commercially,” he was quoted as saying.

[caption id=“attachment_430329” align=“alignleft” width=“380”]  Greece has more than 6,000 islands, but only “uninhabited” sites would be made available. Reuters[/caption]

Greece has more than 6,000 islands, but only “uninhabited” sites would be made available.

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“This is not, in any way, about selling them off cheap, but about transforming unused terrain into capital that could generate revenue, at a fair price,” the prime minister said.

The historic Attica coast, which boasts famous ruins, could also be sold, the report said.

Samaras is trying to persuade the eurozone to give Greece two extra years to repay 188 billion pounds in bailouts.

According to The Sun, financial giant Citigroup said there was a 90 percent chance of an exit by Greece within the next 12 to 18 months.

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IANS