Sunday, March 7, 2010

Greece Told To Sell Islands To Raise Cash


from SkyNews:
Debt-ridden Greece has been told it should sell off some of its islands to raise cash - and there have even been suggestions the country should flog the ancient Acropolis in Athens.

Here's another sad summary of Greece's plight:

By the numbers, Greece's plight is acute. In 2009, its government debt -- basically, the sum of past annual deficits -- was 113 percent of its economy (gross domestic product, or GDP). The budget deficit for 2009 was 12.7 percent of GDP. Two-thirds of the debt is owed to foreigners, reports the Institute of International Finance.

Click here for the whole story.