Greece Sells 110 Beaches To Appease Troika, "Tell The Russians & Qataris To Hurry Up!"
Submitted by Tyler Durden on 05/25/2014 19:15 -0400
One hundred and ten of Greece’s best beaches are on sale by Greece’s privatization agency, the Hellenic Republic Asset Development Fund (TAIPED) in the name of supposed 'development' and 'utilization of public assets' as the prerequisite for receiving more handouts from the Troika. "This sale of the land must happen," explains one Greek civil servant, "we need this now, quickly. Tell the Russians and the Qataris to hurry up!"
But as KeepTalkingGreece notes, not everyone is so exuberant about a supposedly recovered Greece dumping assets in order to pay back its European bailout banker overlords. With SYRIZA taking the lead in elections, the euro-skeptic sentiment is likely only to rise.
- *SYRIZA PLACES FIRST IN GREECE'S EU ELECTIONS, EXIT POLL SHOWS
As The Guardian reports, some 70,000 lots are for sale in the nation's largest firesale. "We are like a bankrupt housewife forced to sell the silver, to save the family," said one Greek beach-sitter, "Greece has no choice." Well - in fact - they do...
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.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...."We are like a bankrupt housewife forced to sell the silver, to save the family," he said. "Greece has no choice."..."This sale of the land must happen," she said. "We need this now, quickly. Tell the Russians and the Qataris to hurry up!"..."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."
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."
As the new draft bill for the ‘regulation of seashores’ foresees that the sold beaches must allow a small space for the public to use for free, it is really hilarious to see the plot of Sarakino beach for sale: it is marked with red ink. A tiny strip of beach is foreseen for free access for the public. The free beach is so small that it will allow swimmers to enjoy sun bathing most probably standing on their feet.
It seems the Greeks have forgotten one thing... their free-will choice to remain "in" the Euro...
- *SYRIZA FORECAST TO GET 26%-30% VS 23%-27% FOR NEW DEMOCRACY
Or have they?
tagged: Attica Region, elections 2014, exit polls, Greece, live blogging, May 25 2014,municipality elections, regional elections, Sunday
The first wave of exit polls has been announced at 7 o’clock Sunday, May 25th 2014. The first wave of exit polls refer to European Parliament Elections and Attica Region.
“The error margin is +/-2,” a pollster said to state NERIT TV.
Live blogging continues below the exit poll results.
As this is a Live Blogging and an ongoing process, refresh the KTG page from time to time.
European Parliament Elections
at 7 pm Exit polls at 7% by 75% of the questionnaires counted. Exit Polls by 100% see below at 8:33 pm
SYRIZA 26% – 30%
Nea Dimokratia 23% – 27%
PASOK/ELIA 7% -9%
Golden Dawn 8% -10%
To Potami 5% – 7%
KKE 5% – 7%
Independent Greeks 3,5% – 5%
Democratic Left 1.5% – 2.5%
LAOS 1.5% -2.5%
Boutaris (center-left) 56% -60% (estimated to receive 58%)
Kalafatis (ND) 40% – 44% (estimated to receive 42%)
Dourou (SYRIZA) 48% – 52%
Sgouros (PASOK+ND) 48% – 52%
Tsitsikostas (former ND)
source: state NERIT TV
Fitch Ratings increased Greece’s credit rating one level confirming PM Antonis Samaras’ elections slogan that the economy is improving. And still in line with Samaras and his coalition partner Venizelos, Fitch warns of “political instability” should early elections take place.
“Greece’s long-term debt was raised to B, five levels below investment grade, from B-, Fitch said in a statement Bloomberg News.
“Greece achieved a primary surplus in the general government account in 2013, a key target” in the European Union-IMF financial assistance program and “an over-performance relative to budget,” the ratings company said in a statement.
“The economy is bottoming out,” Fitch said. “Economic data outturns have been encouraging and support our baseline expectation that the recovery will gradually take hold this year.”
Four years and three prime ministers after Greece’s then-Premier George Papandreou requested an international bailout in return for budget cuts and an economic overhaul that cost him his job, political instability still haunts Greece. If the leftist Syriza party wins the election on May 25, as opinion polls project, the blow may undo the coalition led by New Democracy and unravel the fragile progress toward stability.
“Political risk remains high,” according to the report. “An early general election in 1Q15 is the most likely scenario, although a snap election this year cannot be discounted.” (full article Bloomberg)
Greece holds European Parliament and a second round of local and regional elections on Sunday. Public opinion polls suggest a SYRIZA win the the EU elections and a defeat for Samaras’ coalition government partner PASOK. Should the socialists receive rates around 5%, not only Venizelos threatened to withdraw form the government, but there is a high risk for the government as it holds a very thin majority of 152 seats in a Parliament of 300.
PS Fitch upgraded Greece today. Not last or next Monday… they were rating the public opinion polls apparently lol