German institute states:"Hypothecate them!" Your islands as loan payments

The head of the german insitute IWH, Ulrich Blum, stated his estimate that Greece should trade its islands off as payments for the loans is takes, in order to become attractive in the eyes of foreign markets yet again.


As Mr. Blum points out "if the country cannot pay off its debts, then bonds bearers will be financially hurt". "If a German taxpayer has to pay, then there should be a price for a Greek taxpayer".

In conclusion, the German Institute underlines the fact that since the Greek taxpayer cannot pay, public estates such as islands, are worth more than the whole debt, and should ideally be hypothecated.








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