7 Jul 2011

Greece is for sale. Greeks aren't.

Greece's politicians put €50 billion of national assets on sale in the ballroom of the uber-exclusive Claridge's Hotel, the most iconic 5-star hotel in Mayfair. Among the overall Greek assets for sale are 39 airports, 850 ports, railways, motorways, sewage works, a couple of energy companies, banks, defence groups, thousands of acres of land for development, casinos and the national lottery.

However, despite rates being pegged "cheaper" than market value, buyers aren't all that enthused.

The "risks are too high," according to Aref Lahham, Managing Director of Orion Capital Managers. What risk?


And them.

And all of them don't seem to quite agree with their "elected representatives" hawking-off the country while sipping perrier water in a plush 5-star hotel ballroom...

Next stop Portugal, where credit ratings agency Moody's has downgraded the country's bonds to junk status! With Spain, Ireland and others... on the way, perhaps the ECB should keep an open booking on the ballroom at the Claridge's?

Meanwhile, the first Keiser Report of July 2011 focuses on Greece... and why the Greek people are readying for Thermopylae all over again.

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