Monday, 29 June 2015

China to «play an active role» in Greek rescue

The prime minister of the PRC said Beijing is «ready to take all the necessary action» to save the country. In name of strategic interests

Li Keqiang
by Emanuele Bonini

People's Republic of China is «ready» to help Greece, said today the prime minister fo the PRC Li Keqiang, who didn't exclude a financial rescue of the Hellenic Republic by his country. «We are aware that Europe is living a critical moment because of the Greek debt issue», Li told reporters during the press conference held in Brussels ahead the EU-China summit. «This specific issue is a European internal affair, but whether Greece can stay or not within the Euro zone is not only a European concern but also a Chinese one». Asked about any Chinese financial assistance to Greece, the head of the PRC government didn't offer a clear answer but made very clear China will not remain at the window. «China will take all the necessary actions to see Greece in the Euro zone», he said. Without providing any further detail, Li Keqiang assured that «China is ready to play an active role» in order to safeguard the integrity of the Euro zone and that one of the EU.
Of course China has huge economic reason to save Europe, given that the PRC is the EU biggest supplier, with €279.9 billion worth of imported goods in 2013. Greece alone represents a strategic area for the Asiatic country. Beijing appears to view the Hellenic Republic as a regional hub for increasing its economic (and perhaps in the future political) influence in South-Eastern and Central Europe. According to Thanos Dokos, the Director-General of the Hellenic Foundation for European and Foreign Policy (ELIAMEP), the current economic crisis cannot but increase the attractiveness of such a prospect for Athens. Cosco, a Chinese state-owned company, has invested approximately 570 million Euros in the port of Piraeus, with the promise of additional investment in the wider transport infrastructure sector (trains and airports). Thus China has strategic interests to defend in Europe and especially in Greece. Current crisis can seriously re-write the geopolitical order of the region.

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