Monday 10 September 2012

Timeo Danaos, et insulas vendentes

Greece Ready To Start Selling Its Islands. Makes the very good point that no international investors will touch these with a bargepole, because you simply can't trust the Greek government to honour the sale. The author mentions the possibility of forcible renationalisation without compensation, but to my mind more likely is a sudden, large, escalation in land and dwelling taxes — and perhaps specific to the islands in question.

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