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Italy to sell 50 historic sites in bid to pay off government debt

Shiloh

Shiloh

Editor, Senior Moderator
Source: http://www.dailymail.co.uk/news/art...0-historic-sites-try-pay-government-debt.html

Hard-up Italy to sell 50 historic sites in bid to raise ?425million to pay off government debt

A fortress, a palace and an island will be auctioned to tackle the deficit
Economy minister Fabrizio Saccomanni hopes to make ?425million
The sale will be followed by a further ?1billion of austerity measures

By Daily Mail Reporter and Hannah Roberts
PUBLISHED: 00:23 GMT, 12 October 2013 | UPDATED: 10:03 GMT, 12 October 2013

The Italian government is to sell scores of historic properties to help it tackle its huge budget deficit.

A haunted fortress, a cardinal?s palace and an island in the Venetian lagoon are among 50 sites for sale.

The move recalls 2012, when Greece was forced to sell off some its beautiful islands to foreign buyers, to chip away at its enormous debts.

The Italian government hope that the nation?s treasures will be bought by private businesses and converted into hotels, restaurants and museums, bringing much needed employment and international investment...
 
Re: Italy to sell 50 historic sites in bid to pay off government debt

We should do this in the US too. We are leaving a terrible burden to our children and grandchildren. We could start with warehouses full of obsolete equipment then go to bigger items.

I wonder what we could get for the Constitution?

We aren't using it anyway. :(
 
Re: Italy to sell 50 historic sites in bid to pay off government debt

Italian Government economic policy is totally faulty.

While the Cabinet is unable to increase tax revenues from wealthy people, persists making unsustainable cuts in public health expenditure and infrastructure funding.

This is a risk for all citiziens in Italy.

On the other hand, Italy continues to have big expenses in military missions.

The new one, intended to patrol Mediterreanean Sea in order to strand migrants into their departure northern African countries ports, will see around thousand of Army soldiers, drones and several warships with costly impact for national budget.

Economic growth predictions made by Italian Cabinet are widely criticized by experts because they are clearly manipulated and unfounded, and consequently the budged cuts are intended to destroy or sell assets to private for their own profit.

No benefit for citizens will arise from national Heritage assets selling.

GM
 
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