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Italian Treasures on Market to Ease National Debt

Published: 7/6/2010 12:47:00 PM

Keywords: Architecture and Interior Design | Art and Collectibles | Business | Real Estate | Travel

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By William Stolerman

A host of Italian treasures ranging from historic palaces to gorgeous beaches are being sold by the Italian government. It forms part of their effort to tackle their mounting national debt – in the region of £1.18 trillion and rising.

About 9,000 items worth an estimated £3 billion will be up for grabs, including the Caprera island chain (above). Part of the La Maddelana archipelago located off the north-east coast of Sardinia, they are inhabited mainly by goats, cover 45 miles of coastline and draw scuba divers from around the world. It is on sale for £15 million.

Meanwhile, the Villa Giulia museum built by Pope Julius III on the outskirts of Rome will also be sold - though it is not yet clear whether the objects inside will also be offloaded.

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The former residence of the ancient kings of Sicily, a 900-year-old Norman palace in Palermo (above) is on the market for £80 million, as is a beach in Lake Como and some real estate along the Dolomite mountain chain on the border with Austria (below). The opportunities are mind-boggling.

The idea is the brainchild of Italy's separatist Northern League, part of the ruling centre-Right coalition. The 'national treasures' will first be offered to local and regional councils who can then sell them over the internet.

A spokesman for the Agenzia del Demanio (the government agency that controls the national treasures) said: "The complete list is still being drawn up but a provisional one has been made available to regional and local councils. The full list will be posted online at the end of July."

The plan has stoked a fire of controversy, highlighted by Stefano Delpieri of Friends of the Earth in Sardinia, who said: "This is madness. These places are all protected areas and if they are sold off there will be development on them."

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An extraordinary sale and an extraordinary future awaits some of Italy's most prized possessions.

Via [dailymail]

www.agenziademanio.it