New law will only allow investors to lease Greek islands

The government submitted an amendment on Wednesday that would only allow investors to lease, rather than buy, islands and would require various ministries and the heads of the armed forces to approve the transaction.

The legislation tabled by Defense Minister Panos Panayiotopoulos requires the heads of the Defense and Public Order ministries to approve the lease of any Greek islands.

The approval of military chiefs would also be needed before the lease could go ahead.

The amendment means that no investor could buy a Greek island, only lease it for a specific period of time, Panayiotopoulos said.

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