Friday, May 13, 2011

Ελληνικό χρέος - πληρωθούν στο ακέραιο, και στη συνέχεια κάποιες!

The Daily Bell has a good article - IMF Suggests Greece Sell the Parthenon -

"Explaining that Greece "has an extraordinary portfolio of assets" Borges estimates that there is about "€280 billion alone in real-estate assets," of which the Greek government could dispose. We mentioned that Greece could dispose of the Parthenon the other day in passing, but [IMF official Antonio] Borges sounds like this is just what he has in mind! Exactly what does he mean by an "extraordinary portfolio?"

I would seriously suggest that this has already been done with the so-called Elgin Marbles, stolen from the Parthenon by the British (with "permission" of the Turkish Sultan circa 1812). Valuation would be difficult, of course, but according to Wikipedia, the British Museum paid 35,000 pounds for them in 1816. I'll leave it to the more financially sophisticated to figure what 200 years of compounded interest might be on that 35,000*; otherwise "priceless", plus pain and mental anguish to the greek people should neatly balance that account. Britain is in the EU, non? 

It occurs to me that the Egyptians and Iraqis (and how may others?) might also be interested in the value of those antiquities stolen or destroyed by those nations that now constitute the EU and their colonial progeny. India, Congo, Vietnam, South Africa, China - Who's with me on this?

FV   =   P (1 + r)Y  

@5% per annum, much more if compounded quarterly...

35,000 x (1.05)200  
=605,240,328.53 pounds
=694,454,497.42 euro

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