Greece turns to China for cash in return for use of Piraeus


Greece turns to China: The cash-strapped Greek government is said to be looking to borrow €10bn from  China. 24 hours after  Spiegel Online claimed that Russia was about to advance Alexis Tsipras’s government €5bn against future transit fees from the Turkish Stream gas pipeline, two Greek newspapers  – sto Karfi and Agora – are reporting that Athens may be looking to set up a similar but larger deal with Beijing, this time in the form of a prepayment for the future use of the port of Piraeus and as an advance on an investment in the state-run Trainose rail operator.
The reports follow an address  by Greek Finance Minister Yannis Stournaras to the Hellenic Chinese Business Partnering Conference in Athens on Monday when he stressed the strong historical ties between the two countries and the potential for future cooperation. “In order to support economic recovery and further progress we work hard to boost innovative extrovert businesses, to encourage Greek and foreign direct investments and strengthen exports of products and services,” he  said.



Source: neurope