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European Journal

Greece: Fears of a Sell-Off

Greece owns 6000 islets and islands, 40 of which the government wants to lease for up to fifty years - to the delight of real estate agents and investors. "Sell your islands!" That past, not entirely serious, suggestion to the Greek government might actually become reality, in a slightly modified form. Greek islands in the Gulf of Corinth are highly prized for their isolated beaches and pristine nature. But the idea of leasing them has triggered debate. Some people worry that natural beauty will be destroyed if the islands are developed. Others see the plans as a way to generate revenue for the country's ailing economy and as a source of employment in the region.

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"Sell your islands!" That past, not entirely serious, suggestion to the Greek government might actually become reality, in a slightly modified form. Greek islands in the Gulf of Corinth are highly prized for their isolated beaches and pristine nature. But the idea of leasing them has triggered debate. Some people worry that natural beauty will be destroyed if the islands are developed. Others see the plans as a way to generate revenue for the country's ailing economy and as a source of employment in the region.