A Grand Inquisitor’s villa, a Pope’s fort and a Venetian island will be sold off to fill Italy’s depleted state coffers, local media reports. It’s hoped the 50 historic sites will raise 500 million euros needed to obey strict EU austerity rules.
The plan to offer some of Italy’s state-owned real estate to private investors is part of an emergency decree aimed at keeping the country’s 2013 budget deficit within 3 percent threshold set by Brussels, the Corriere della Serra newspaper reports. Continue reading “Cash-for-Castles: Italy sells off historic sites to plug budget holes”

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