Communism, Berlin Edition: Adler Bonds Crash To Record Low As Left Coalition Pla

[Pallas_Boreas]

Five years after Berliners voted to expropriate their landlords, the German capital finally has a government willing to do it.

On Saturday, Die Linke, the Greens and the SPD presented the 30-page exploratory paper that will underpin their coalition agreement for the next Berlin Senate, and buried among the usual promises sits a plan to socialize, under Article 15 of the German constitution, every apartment a private landlord owns in Berlin above the first 10,000. The compensation for this act of municipal generosity: a hard cap of €16 billion which works out to about €105K per unit, or 58% of book value... and even that cap is conditional on "fiscal sustainability."

Link: https://www.zerohedge.com/political/communism-berlin-edition-adler-bonds-crash-record-low-left-coalition-plans-socialize