Greece should sell islands to cut debt

Greece should consider selling some of its uninhabited islands to cut its debt, according to political allies of German Chancellor Angela Merkel.

Josef Schlarmann and Frank Schaeffler told Germany's Bild daily that the Greek state should sell stakes in all its assets to raise more cash.

Greek PM George Papandreou is due to meet Mrs Merkel in Berlin later this week for talks about the crisis.

Mr Papandreou has already announced a strict austerity programme.

It sounds like the sort of daydream induced by too much ouzo, but the idea comes from two senior politicians in Europe's biggest economy.

Mr Schlarmann is a senior member of Mrs Merkel's Christian Democrats and Mr Schaeffler is an MP for the Free Democrats - the junior partner in the centre-right coalition.

Both confirmed to the BBC that they wanted to start a debate about what Greece could do to help itself and bolster the battered euro.

Those who face insolvency, Mr Schlarmann said, must sell everything they have to pay their creditors.

Read more here: http://news.bbc.co.uk/2/hi/europe/8549793.stm 

Mexico Stocks Open Lower On China, Greece News; Peso Weakens

Mexican stocks moved lower Friday in early trading as investors reacted to China's announcement it would raise bank reserve requirements for the second time this year and a debt bailout for Greece failed to materialize.

The IPC index of the 35 most-traded shares was down by 0.4% at 10:20 a.m. EST at 30,730.50 points on volume of 25 million shares worth 690 million ($53 million).

The peso was also losing ground against the dollar, which strengthened as a safe haven in volatile equity markets.

The peso was quoted in Mexico City at MXN12.9850 after rallying to MXN12.9500 on Thursday when the government said it hopes to launch its first syndicated bond issue later this month.

The Mexican stock market was following U.S. markets lower, as China said the central bank will raise the reserve requirement ratio for banks by 50 basis points Feb. 25.

A lack of details about aid to debt-ridden Greece added to jitters in equities and emerging markets.

In local news, copper mining company Grupo Mexico (GMEXICO.MX) learned after the market close Thursday that a labor court had ruled in its favor in a dispute with the union that has left its biggest copper mine closed in Cananea for 30 months.

The B shares of Grupo Mexico were flat at MXN28.85.

Read more here: http://online.wsj.com/article/BT-CO-20100212-708988.html?mod=rss_Global_Stocks

FANTAGE: A Virtual World for Youngsters

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Check it out here: www.fantage.com

Greece's Stunning New Acropolis Museum!

For almost 2,500 years, the Acropolis has been a touchstone for the country's fortune. Its construction in the 5th Century BC sparked a gilded age of creativity. Until now, thousands of artefacts from the gargantuan Parthenon and the surrounding buildings that make up the Acropolis site - the Erechtheum, Temple of Athena Nike and Propylaea - have been sold short in small, cramped museums or hidden away completely.

Officially opened on June 20, the new museum lies at the foot of the Acropolis. Some 10,000 visitors are expected daily and it costs a low introductory price of €1 (85p) to get in this year, rising to €5 (4.30p) in 2010.

Continue reading: http://www.dailymail.co.uk/travel/article-1197649/Greek-holidays-Inside-Athenss-stunning-new-Acropolis-museum.html