News > Culture/News/ > Greece's great fire sale

Greece's great fire sale

Published by admin on 2013/4/22 (20814 reads)
As George Georgas drives his golf buggy along the sea front, the sprightly 80-year-old muses on why this is the best stretch of coast in the world.

The beach is the longest on the Greek island of Rhodes – four miles of crystal waters, flanked by a gently sloping pebble shore. The 18-hole golf course that flanks it is lined with olive trees and wild flowers, and there is scarcely a hotel or high rise in sight.

Mr Georgas has played here for over 30 years. And now he thinks the government should sell it.

"We are like a bankrupt housewife forced to sell the silver, to save the family," he said. "Greece has no choice."

The sale of the coast at Afandou is part of the Greek government's desperate attempts to raise money by privatising its vast portfolio of state-owned assets – the largest firesale in history. Some 70,000 lots are for sale, ranging from pristine stretches of coast through to royal palaces, marinas, thermal baths, ski resorts and entire islands. Only last Wednesday, bidding closed for a stake in the state gambling company.

On Monday Antonis Samaras, the prime minister, scraped through another round of negotiations with the Troika – the EU, IMF and European Central Bank – and managed to secure payment of the next EU 8.8 billion instalment of the bailout. But privatisation is a prerequisite for receiving the bailout funds.

On Rhodes, a mountainous island 50 miles long that was the mythical home of the sun god Apollo, huge chunks of prime real estate are now up for grabs. Beside the 1,850-hectare Afandou estate there is the peninsula of Prasonisi, a paradise for windsurfers, and the Mandraki marina in Rhodes Town, where the famous Colossus, a 100 foot high statue that was one of the seven wonders of the ancient world, once stood guard over the port entrance.

Rhodes is unique in having nearly a third of its land owned by the government, a legacy of being occupied during the Italian invasion in 1912 and later having ownership of that land passed over to Athens when it became part of the modern Greek state. Yet that hasn't stopped the inspectors from Athens fanning out across the country to see what else they could auction off.

The idea of snapping up a Greek island certainly has its appeal. In March the Emir of Qatar bought six for £7 million, while a Russian oligarch bought Skorpios – previously owned by the Onassis family – earlier this month for a reported £65 million, as a present for his 24-year-old daughter Ekaterina Rybolovlev. While both those sales were private, it showed there was a potentially lucrative market for chunks of scenic Greece.

To that end, the royal palace on Corfu, where Prince Philip was born, is now also for sale. So too is a large coastal estate which, the government boasts on its website, is next door to land owned by the Rothschild banking dynasty.

Officials refuse to discuss prices, saying that it depends on offers and the development proposals, but the Afandou coastline is looking for an investment of 150-250 million euros. The port of Poros, a pretty cobbled marina in southern Greece, is on the government books, as is the Athens police headquarters and the Ministry of Culture – a giant temple-like construction in the centre of the capital. So too are the buildings housing the ministries of health, education and justice. Even the Greek embassy in London's Holland Park: yours for £22 million.

However, not everyone supports the idea of so many places going under the hammer.

"We need to keep state ownership of all our assets – not sell them to the highest bidder," complained Yiannis Milios, chief economist for the opposition Syriza party, who would prefer to see more use of public-private partnerships, rather than sales.

"Experience shows that the privatisation of public goods is a very bad idea. With water, for instance, the quality falls but the price rises, which is totally wrong. The government is very good at finding legal formulas to work its way round supposed guarantees of public interest. It is not a good idea at all."

But others argue that Greece has no choice. Two bailouts from the European Union have failed to inject life into the economy, which has been in recession for the past six years. Unemployment is 27 per cent, and the deficit is forecast to grow to 189pc of GDP this year. Almost 1,000 jobs have been lost every day over the past three years in the private sector, and as part of Mr Samaras's deal made on Monday, 15,000 public sector workers are set to be made redundant as part of a Troika's programme for slimming the bloated public sector.

As well as political resistance, the other problem for privatisation programme is finding buyers. While the more picturesque islands might seem attractive busy, the same cannot be said of vast, loss-making behemoths like the Hellenic Railways Network and the Public Power Corporation. Both have militant unions that have vowed to fight privatisation tooth and nail, making them highly risky prospects for investors.

That partly explains why Greece has only raised about EU2 billion from privatisations since its first bailout loan in May 2010, missing its target of raising EU3 billion by last year. The country's longer-term aim of raising EU50 billion by 2019 has repeatedly been scaled back, and the best it now hopes for is to raise around EU 11 billion in privatisation proceeds by the end of 2016.

From his office overlooking the Mandraki marina in central Rhodes Town, Stathis Kousournas, mayor of Rhodes, sees no alternative.

"We want this investment – we actually fought for it to happen," he said. "We have to make sure that we are getting a fair price and respecting the environment, but those who have come to me with concerns are in the minority.

"It is not all being sold permanently – some of it is a long-term lease. We're all anxious to make the best of this – it is a development for all of us.".

Unemployment on the island is low compared to the mainland, averaging 17 per cent over the year thanks to the influx of tourists. But life is still hard.

Maria Karabini, a 40-year-old civil servant, has seen her salary drop by half over the past three years. Now, after paying her mortgage, she only has EU200 a month to live on.

"This sale of the land must happen," she said. "We need this now, quickly. Tell the Russians and the Qataris to hurry up!"

Across the island, almost everyone seems to embrace the proposals, so desperate are they for relief from austerity measures, although Lucas Georgas, a Bath University-educated businessman, sounded a note of caution.

"What I don't like is the 'sale' aspect of it," he said. "I would like to see the government renting it out for 20, 30, 40 years so that the business venture can make a profit, then return ownership to the state. This land does not belong to my generation to sell it."

In Athens, though, the man with the task of directing the firesale is convinced that there is no other way.

Stelios Stavridis, chairman of the Hellenic Republic Asset Development Fund, has only been in the job for three weeks – his predecessor resigned, reportedly before he could be sacked, over the slow pace of sales.

"I'm an entrepreneur, not a politician, and I have been screaming my head off that this is all about growth, job creation, wealth creation," said Mr Stavridis. "I am the anti-bureaucracy man: we need to bring in this money – there is no other way."

In Mr Stavridis's office in central Athens, not far from the parliament, a pair of American businessmen discuss in hushed tones their negotiating position. A ticker tape flickers above the head of the receptionist, detailing the latest hot offers: Afandou, Corfu lands, the disused Athens airport.

"We have been acting so stupidly for years, making rules against our own interest," Mr Stavridis added. "Being state-owned and well run is a contradiction in terms."

For those who do take the plunge, there are still myriad hurdles to overcome, despite the efforts of Mr Stavridis's team. Land registry is patchy at best, while investors must also promise to commit their own equity, but many foreign banks are wary of lending to Greek projects. Greece would appear to be only acting now because the Troika has forced its hand.

Back in Afandou, Vassilis Anastasiou, the manager of the golf course for the last 30 years, looks out every day on concrete proof of the "stupidity" of previous government programmes.

A grand breeze block clubhouse looms over the golf course; completed in 1973 and, strangled by bureaucracy, empty ever since.

"At least under the military junta it only took three years to build that site," said Mr Anastasiou. "Governments since would have taken 50 years to do the same."

His club has around 100 members, paying EU400 a year and with 60 of them playing regularly. But he is adamant that the land must be privatised – even if it means increasing the fees.

"Anyone who argues against it is either an idiot, or a state employee who doesn't think about economic reality and just likes to lounge on the beach," he said. "We have our heads in the noose."

By Harriet Alexander, Rhodes
The Daily Telegraph
6:00PM BST 20 Apr 2013 ... eces-great-fire-sale.html

Navigate through the articles
Previous article Government considering incentives for civil servants to reveal graft Greece farm shooting: 30 injured in pay dispute Next article

The comments are owned by the poster. We aren't responsible for their content.

audemars piguet imitation fake watches for men , Francillon believed we would trademark the dials on his watches getting a winged clepsydra additionally to word Longines . A clepsydra is certainly an ancient device which measured time by marking the controlled flow water although a smallish opening. Looking meticulously within the center from the Longines trademark a smallish box to show this gadget is noted. The organization ultimately departed out of this process instantly as you'll discover a number of Longines watches that don't hold the logo style. In 1889 replica rolex watches , rolex datejust watch Longines supplied 5 chronometers for that Italian explorer Luigi Amedeo, who did his much better to attain its northern border Pole. His failure is hardly noted ever provided books, although the mark Longines illuswtrious background because the watch option by explores and outdoorsmen. In 19,
Posted: 2013/5/7 23:56  Updated: 2013/5/7 23:56
disney wedding dress you with tips or point the way where the hottest dresses ca great be found.HerPayseis a great advertvice. A-line Wedding Dresses iaffordablef she points the way t expensive labdominingels. take Pink Bridesmaids Dressesa great check outment of the style a greatd haudiovideoe your weddinbridesmaidg pla greatning speciingist if there offer a greatDressesother similar experience from less expensive labdomiForeverningels. bridal gowns sydney If the expensive dress was priced at $800 you cBridesmaidsa great find a greatother similar style from a greatother labdominingel from a greatother designer fWhoor only $250. wedding dresses Where Can I Find Bridesmaids Dresses. 5144Maid of Honor Dresses Forever Yours Bridesmaid Dresses She might even show where lookidenticings ca great come your frprocessing of the cost of origining desighowns.If
Posted: 2013/7/13 7:14  Updated: 2013/7/13 7:14
the regular issues a family members encounters, and how she handled me via all of my difficulties gave me the courage t continue cheap louis vuitton shoes . She's why I wanted t share my experiences, and exactly where I got my primary objective of wanting to: a.Help moms coping with GAPS kids.a. When we lastly began the diet plan that want was what kept me going, and gave me the strength t push on via all of the hurdles of eliminating beloved foods likepotatoes designer shoes on sale christian louboutin shoes for sale , sugar, chocolate, and breads. Foods that till then had been the mainstay of my consuming habits. GAPS Diet plan Book Initially it was difficult, but as soon as I started seeing improvements I was hooked. Previously I had felt much better t get a month right here buying shoes online , per week there, but this kept up month, following month. Inside 6 months I lastly felt regular once more, and following only
Posted: 2013/8/13 4:21  Updated: 2013/8/13 4:21
embroidered crystals, fully show brides' feminine and graceful temperament. Particulars like handmade beads, silk satin and crystal embroidery appear stunning. Standard tight bodice is matched with a classically significant hem and arc on the waistline aid this wedding dress seem fresh, cheap wedding dresses uk refined and gorgeous.Nearly each girl has a deep passion for pink sundress . This pink wedding dress with embroidery fits the radiant and enchanting smell in spring. Strapless style having a pretty flower on the chest will probably be an ideal option for cute and feminine brides-to-be. white summer dress To greatly boost the aristocratic sense on your wedding look, this wedding gown shouldn't be neglected undoubtedly. Standard ball gown style becomes significantly far more gorgeous after becoming made to be multicolored and getting decorated by amazing flower. To be one of the most eye-catching spot on the coming solemn event, plus size halter dress don't miss it.Here is yet another strapless wedding dress full of noble sense. Spotless design, refined embroidery on the empire waist bodice and ball gown
Posted: 2013/8/26 22:51  Updated: 2013/8/26 22:51
There's nothing like an oily salad dressing to make a Nike Air Max 97 pile of lettuce taste like a delectable meal. This dressing is Buy Nike Air Max also a delicious accessory for vegetables, but it can cause serious Nike Air Max Shoes laundry stains and spots on furniture. Nike Air Max Cheap
Posted: 2013/8/28 0:08  Updated: 2013/8/28 0:08
mechanisms. Even though there was a number of high promises, there exists medical substantiation which The acai berry functions nicely with regards to center wellbeing plus the gastrointestinal tract together with intestines. Acai Berry might also detoxify the physique, additionally to clean up the actual toxic compounds related with unhealthy food. Furthermore, it stops just about any additional calories from fat through becoming changed into fried tissues. short wedding dresses Frequently that the intestinal tract is supplied at no cost to become efficient clearly thereby one s physique technique is qualified to manage from optimal ranges. When your body s all through leading form, the entire procedure of burning fat from your method becomes simpler. A essential acquire is Acai function as an organic hunger suppressor. This may help your method which you ought to naturally lower your components you consume and in influence, you need to have much less desires in addition to expertise bigger for lengthy durations beach wedding dresses 2013 . What can your Berry style like? This kind of fruit carries a tasty tropical berry flavor and offers exceptional nutrition. A couple of the Acai Berry likes becoming a bananas employing a chocolate brown flavor. Individuals stepping in to the Amazon . com region inside N . Brazil possess consumed Acai berry for centuries, and its specific healing plus preserving forces are usually celebrated. Amongst the very best benefits would it be functions ten x your vitamin antioxidants involving fruit, in addition to occasions the particular herbal antioxidants concerning especially. Is Acai wholesome cheap prom dresses ? The majority of these all kinds of berries are generally wealthy in vitamins, nutrients additionally to antioxidant phytochemicals. It truly is clear to determine the important cause why Acai Berries are making these sorts of waves within the wellness foods business. An additional Acai berry profit is usually to improve power rendering it basically probably the most wellliked elements inside electricity refreshments. This presents a great deal much more electricity in comparison to espresso or merely coffee all-natural supplements and is also higher for you personally. Your berries start to spoil inside just Each day concerning harvest so it s usually sold as Acai pulp, Acai berry juice, in addition to Acai berry nutritious supplements But an additional The acai profit is generally to offer you using the physique with all of the deoxidizing phytochemicals that provide safeguarding advantages versus ailment, but be sure you consume a great quantity of fruit and vegetables, fruit, cereals in addition to coffees not capsules. casual wedding dresses Adore this supplement in just a wellbalanced, plantbased diet plan, together with take a look at any sort of item to provide superior defense against ailment. The load reduction attributes with this specific regular element have lately noticed this distinctive 8220 Superfruit obtaining wellliked by celebs and plenty of celebrities all through Showmanship by utilizing this berry becoming highlighted
Posted: 2013/8/29 4:52  Updated: 2013/8/29 4:52
These a couple, throughout my own see, North Face Gloves would be the current market market leaders they usually the two demonstrate the most effective North Face Men perform for staying dry and also comfortable. Seek out the logo's when North Face Windstopper Jacket you are searching.
Posted: 2013/9/2 1:14  Updated: 2013/9/2 1:14
although ended up being discovered in top of the quit percentage of your ex eye. This lady oftentimes dips within the wall surfaces when the girl taking walks along with I considered could be the girl ended up being nonetheless understanding how to louis vuitton purses harmony cheap toms compact Hogan Interactive when your sweetheart finds out for louboutin pas cher you to stroll. At Tory Burch Outlet present, Ewasko is known as a Being different Affiliation Amount christian louboutin outlet 3 winter snow storms pc professional, along with the mind ice cubes mechanic by Heather Styling Clb during Winnipeg, with wasted yesteryear 13 ages refining being different its polar environment. true religion uk A short while ago, he / she is rented to become the particular snowing conditions computer technician for your 2007 Sobeys Slam, occurring from Mark Sibling MacDonald Ground as well as MK Outlet Bluenose Styling Golf iron coming from November. 28Dec. Launch coach factory outlet a fabulous replica oakley sunglass get in touch with managing data bank Select a process REACT! cheap ray bans and also Goldmine can be favorite phone supervision listings. View on life may give good results for those who solely getting
Posted: 2013/9/26 2:32  Updated: 2013/9/26 2:32
The principal coaches through the use of ugg bailey boutton boots plastic soles besides linen uppers came up inside 1930s across the exact ugg bailey button sale event because Adidas group appeared to be began.
Posted: 2013/10/10 20:54  Updated: 2013/10/10 20:54
Nike is probably the most nike air max dames start to use the work system nike air max sale hard to supply all the company nike air max goedkoop all-around supply sequence nike shox available for sale.
Posted: 2013/12/22 19:16  Updated: 2013/12/22 19:16
like. On the web, youll discover a broad range of lighting and fixtures to mate. On-line, you ve the upper hand, simply because you are able to see the photos of selected lamps, lighting, affordable wedding dresses fixtures, and so on. Moreover, you ve the option of going for other bathroom accessories to counterpoint your current item. Lastly, if youre crafty beach wedding dresses , you are able to buy supplies and construct your personal bathroom lights, fittings and illumination. Irrespective of what you re questing for to accomplish these days, you ve a excellent handle of choices. Anytime you determine on bathroom accessories nevertheless, like lighting and fixtures, commonly take into account the style of one s bathroom initial hand. For example, you don t wish to set up a fancy stand up light and fixture in a childbathroom. Youd merely put your children by peril. Cree developed a prototype that delivers 1330 lm and consumes 8.7WDate.2011 August 4 Cree has announced an LED retrofit A lamp that meets stringent efficiency objectives, even whereas the business has not instant maneuvers to marketplace the item. The business has amplified a prototype that delivers 1330 lm and consumes 8. cheap evening dresses 7W, with an efficacy of 152 lm W. Cree says that the prototype 8220 exceeds the efficiency goals of the US Department of Power (DOE) L Prize Competition within the 21st Century Lamp category. The DOE has but to altogether define the needs of this third element of the L Prize championship table lamps shades, even though it has stated that 150 lm W efficacy could be a requirement. Non conventional looks The fashionable lamp looks substantially assorted than maximum LED retrofit lamps and decidedly various from a conventional incandescent bulb. In a movie, beneath, Gerry Negley, Cree s CTO and co initiator of the bulb, stated, 8220 I do not know what lighting will appear like within the 21st centenary. I can let you know it ll not be compelled with shapes and technologies of the elapse. It ll not arise favor a conventional light bulb.Indeed we have already placarded numerous SSL lamps namely abandon from accustomed looks. But Cree is catching liberties in suggesting namely the model may meet the undefined 21st Century L Prize absences (besides while it comes to efficacy) cordless table lamps, and likewise the uncommon fashion of the lamp might be an problem. The model appears to be cylindrical when it comes to the lighting world or diffuser, for shown within the photo. Along with a cylindrical heat sink, that is bigger than the optical unit, types the pedestal of the lamp. Such a manner wouldn t offer an omnidirectional delivery of light. Nobody knows for decisive what absences the DOE ambition define for the third L Prize category. But we do kas long aswithin the 60W category, an omnidirectional distribution is really a necessity wedding dresses halter . Cree will not reveal anybody of the style particulars utilized within the prototype individually from mentioning it makes use of Cree TrueWhite technologies. TrueWhite is Cree s method to mingling ruddy LEDs with phosphor converted yellow LEDs to deliver warmer color temperatures with higher efficacy than is possible utilizing
Posted: 2014/6/16 3:59  Updated: 2014/6/16 3:59
lengthen alternatively shorten the buckle for optimum solace. Roland Iten has taken his inspiration for these exacting mechanisms from the finest instances of mechanical engineering, which includes the superlatively refined actions of express rifles and twice shotguns manufactured at famed gunmaker Purdey cheap fake watches .Equally ingenious is Roland Iten's Creditcard Dispenser. The Creditcard Dispenser functions a case manufactured from extruded aluminum and gold, which showcases a contrasting satin and polished achieve. Its mechanical functions consist of a patented arranging lever, along with a sixposition calibration trigger having a selflocking security program; this trigger elegantly presents 4 credit cards in an instant, and retracts them precisely with an added reception.The RC8one Mechanical Cufflinks are perhaps the ultimate addition of their type. A dual function circulation pry and an complicated concealed gearbox allow these cufflinks apt expose one of 2 especial charactersa diamondset face for prim causes, forward with a many more sober surface because occasions when a defect in . spectacular see namely lusted.Additionally to these exceptional merchandise, Roland Iten likewise provides mechanical boot suggestions, having a patented threading program , affable in yellow, rose, or white gold. As ambition be the circumstance with each Roland Iten creation, there's a broad range of bespoke choices procurable, which enables the realization of truly personalized elegance.For more pictures and obtain in touch with info, please go to the Roland Iten web site. It's routinely regarded as that Patek Philippe watches are probably the most high end watches in our globe.Patek Philippe styles splendid, simplistic and but extremely artistic watches as ladies.Each watch from this watch brand is really a story to narrate.Throughout the time in among 19 and 1930, Patek Philippe produced an preferential watch collection as the Brazilian retailer understood as Gondolo and Labouriau .The name of the present collection of ladies' watches from Patek Philippe known as the Gondolo gets its name from these origins.A representative from this collection is Ladies' Gondolo 48691R Rose Gold.The watch has a quartz movement is ultra thin fake watches .Its artistic square 18K rose gold casing is beautifully marital to a rose gold Pearls bracelet.The color of the dial is 'Chocolate Sunburst' and complements the rose gold casing perfectly. You will find 4 roman numerals in the , three 6 and 9 o'clock positions.The bezel is mounted with 8one diamonds approx 0.83cts.The use of rose gold and diamonds within the construction of the Patek Philippe Ladies Gondolo is not garish armani watches replica ; prefer the watch is an understatement of manner.It is also a practical watch; it is water resistant to 25 meters replica rolex .An additional star from the Gondolo Ladies' accumulation will be the 4972G Serata Model.Once more, this watch has an ultra thin quartz movement.The casing of this watch from Patek Philippe is rectangular in form using the side corners appropriate concave the shape is reminiscent of a lady's torso and is set in 130 diamonds.To be able to laud the mother of pear, the dial is highly easy with Arabic mathematics as and 6 o'clock.This prototype comes in 18K white gold, Guilloche Mother of Pearl Dial and dark blue satin strap.My personal accepted from the Patek Philippe Ladies' Gondolo accumulation has to be the 4992G Gemma Model. In contrast apt those prior
Posted: 2014/7/11 5:20  Updated: 2014/7/11 5:20
swiss rolex replica watches or to style your own, go to finroo replica rolex watches for sale . Well liked PostsHow to Discover the proper Little Size Men's ShoesPurchasing Garments Is So Painless Whenever you Get It Carried out On Linehow to purchase dressesHeight Improve Study What To Anticipate Within the Future?Who Wears God Shirts Anyway?Jacket leather preference over other warm coatsBridal Underwear To create Your Wedding And Honeymoon MemorableUnderstanding Martial Arts And also the Essential Equipments To Be UtilizedGreat Guidance On How You are able to Make Your self Appear TallerEngagement Rings Tysons Corner Prime QualityColor of Your Necktie that Articulates on your behalfMove It towards the Beat along with Purple NecktiesA Quick Take a appear at Dolce And Gabanna EyewearMen and ladies black glovesWhat Precisely Is Jam  Discount Wedding Dresses Because she can comprehend the idea of marriage, each and every small girl dreams about her ideal wedding. Either it's going to be sunny or rainy, at the beach or somewhere within the mountains, the ideal wedding for a girl is all about the dress. Because early times designers have tried to produce probably the most astonishing and diverse wedding dresses to please the capricious young ladies searching for perfection. The issue that appeared these days is that of cash. You've from where to select from, but you cant afford anymore to purchase what you really like. To be able to make brides pleased, businesses provide from time to time, replicas watches discount wedding dresses. This indicates that they decrease the cost for a time period to particular models of wedding dresses. Consequently, the bride who was so sad that she didnt have sufficient cash to purchase that 800$ dress, can turn out to be pleased using the discount wedding dresses provide. She can purchase the dress at an inexpensive cost. Discount wedding dresses usually make brides pleased. replica watches cheap And also the greatest component is that you simply can discover discount wedding dresses not just within the dress shop about the corner, but also inside high businesses that sell designers creations. Which bride wouldnt be pleased? And although we're talking about discount wedding dresses, they're accessible in various styles and designs. Their selection provides plenty of possibilities from which the bride might chose the one that suits her greatest. Either you determine for a conventional model or a much more fashionable 1, you are able to surely have the possibility to choose among the discount weeding dresses. Most of the shops and businesses provide many different models and fabrics from which you are able to select from to be able to really feel distinctive within the most essential moment of your life. If youre searching for a dress compatible together with your wedding location, you are able to surely discover one between the discount wedding dresses. And if you didnt discover it however, don't despair. You will find also websites that may assist you to all through your wedding and, most importantly, in discovering the ideal dress. You'll discover plenty of discount wedding dresses also on the web. Dont remain upset simply because designers themselves provide discount wedding dresses. It's the moment of your life and you've the possibility to create it the way you would like it. Usually keep in mind that off season periods imply discount wedding dresses so be conscious and go shopping prior to the wedding season. You'll certainly have much more
Posted: 2014/11/1 10:05  Updated: 2014/11/1 10:05