Greece: Tourist bonds, liquidity, real estate and business opportunities - The Best from Greece
- Accommodation
- Business
- Culture & Arts
- Entertainment
- Food & Drink
- General
- Greek Gastronomy
- Media
- Products
- Recreation
- Sea Tourism
- Shopping
- Sports
- Tourism
- Travel
Posted on: 26/Oct/2011
source: http://www.neurope.eu
«« Let's get back to the News Overview
The main comparative advantage of Greece remains state property, mainly in tourist-resort areas. Tourist real-estate development can create increased values.
A major disadvantage for Greece is its lack of liquidity. Creation of convertible public bonds having as collateral tourist real estate, can serve, among others, two main goals simultaneously - an increase in liquidity and growth.
Analytically, a new type of public bonds can be introduced to the market, so-called tourist bonds. They can have various low values and can be used as euro. The state, through its liabilities (such as public-procurement payments) can introduce these bonds to the market, as a substitute for euro.
These bonds, issued for ten years, will be convertible in specific type tourist real estate. The latter will be the fruit of co-financed projects. The main partners of these projects will be the state (offering the property mainly), the bank sector or, alternatively, construction consortia
Resort luxury houses will be constructed as village type, on 100% se- and-sun views and hilly landscapes (i.e. Santorini). These tourist villages will satisfy the needs of a high-level economic class (offering marines, shopping, medical facilities) that are close to airports for easy access. These luxury tourist-resort establishments will be launched on the market via a fractional system; each owner of such a house can enjoy all advantages related to this property for 50 years.
The holders of tourist bonds have two alternative solutions -first, they can convert their bonds against these luxury resort houses. Second, by the end of the tenth year, they can have their money back. Profits from such activities, which go to the state (resulting from its participation in these projects) can lead to the reimbursement of the bonds under examination.
Finally, the ‘tourist bonds’ can be introduced to the market alternatively through the traditional way (ie for cash).Ī¤his approach will have a directly positive impact on Greek debt.
Author : Dimitri Mardas
source: http://www.neurope.eu
«« Let's get back to the News Overview
