Report: Greece ready to cash in on islands

[August 24, 2012]  PARIS (AP) -- Afraid of investing in Greek bonds? Invest in a Greek island instead.

Greece's prime minister is quoted Thursday in an interview in France's Le Monde as saying the government could cash in on uninhabited islands.

Antonis Samaras said investment is key to reviving the economy, and that privatization plans include selling railways and a part of the Attica coast.

Asked if the government is ready to sell uninhabited islands too, he said, "as long as this doesn't pose problems for national security, some of these isles could have a commercial use."

He didn't elaborate or say the government would sell the islands altogether: "This is not, in any way, about selling them off for cheap, but about transforming unused terrain into capital that could generate revenue, at a fair price."

[Associated Press]

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