German politicians say Greece must sell property, companies and uninhabited islands to raise money for debt payments, the newspaper Bild reported.

“A bankrupt party must use everything he has to make money and serve his creditors,” said Josef Schlarmann, a member of Chancellor Angela Merkel’s Christian Democratic Union. “Greece owns buildings, companies and several uninhabited islands, which can now be used to repay debt.”

Greece must “radically part with company shares and also sell property, for example uninhabited islands,” said Frank Schaeffler, financial expert of Germany’s Free Democratic Party, as cited by Bild newspaper.

"The chancellor cannot promise Greece any help," Schaeffler told Bild in a story under the headline: "Sell your islands, you bankrupt Greeks! And sell the Acropolis too!"

"The Greek government has to take radical steps to sell its property -- for example its uninhabited islands," Schaeffler told Germany's best-selling daily newspaper.

Germany has rejected the idea for setting up a European fund to help Greece, saying it is not a solution to Athens' debt problems. Opinion polls show Germans are overwhelmingly against taxpayers bailing out Greece.

The Greek government approved an austerity package of tax rises and spending cuts worth EUR 4.8 B, hoping to convince financial markets that it can pay off its debts and persuade European leaders it is doing enough.

The measures include raising VAT to 21% from the current rate of 19%, and cutting civil servant bonus payments during holidays - which has annoyed union leaders.

But the austerity measures already proposed - such as freezing public sector pay, raising taxes and changing the pension system - have provoked huge street protests.

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