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Paqué, Karl-Heinz

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Handelsblatt - Germany | 20/09/2011

Help Greece before Chinese do

Talks between the EU, ECB and IMF troika and debt-stricken Greece on Monday about the paying of the next eight-billion-euro instalment from the bailout fund ended without a result. The liberal business daily Handelsblatt warns of the dangers of not helping Greece: "A humiliated Greece - abandoned by Europe at the height of the crisis - would sooner or later take a different direction politically. It could quickly become a European base for Chinese interests. The vast Middle Kingdom has deep pockets and is not in the least fussy when it comes to choosing its spheres of influence. Perhaps it would offer far more favourable conditions for providing state capital than the Europeans are doing. Athens, with its port of Piraeus as a bridgehead in Europe, would certainly be to China's taste. And as long as Greece is still a member of the European Union China would be indirectly sitting in Brussels along with the rest. Not a pleasant idea."

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