Europe Euro crisis: Cash-strapped Italy sells off iconic lighthouses

The Italian island of Sardinia is leasing several formerly state-owned, out-of-use lighthouses to private developers who plan to capitalize on their pristine coastal surroundings. 

Max Rossi/Reuters/File

They command stunning coastal views of one of the Mediterranean’s least spoiled islands, but now, as Italy’s new government attempts to chip away at the country’s €1.9 trillion ($2.5 trillion) debt, a clutch of abandoned but picturesque lighthouses on the island of Sardinia will be sold off.