Western Europe abandoned Greece but mighty China is ready to help Greece.

NEWS /GREECE
[SIZE=7]Greece and China hail strategic partnership, as US and EU look on[/SIZE]

Greece is attempting to be China’s gateway to Europe, with Athens offering Beijing plenty of investment opportunities.
by John Psaropoulos
21 hours ago
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Athens, Greece - Greek leaders on Monday hailed Chinese President Xi Jinping’s first official visit to Greece as a “new era” in what is an already close trade and investment relationship being closely watched by the United States and the European Union.

“Greece recognises China not only as a great power but also as a country that has won for itself, not without difficulty, a leading geostrategic economic and political role,” Prime Minister Kyriakos Mitsotakis told Xi.

Greece is eager to play a greater role in China’s overseas development. During the visit, the two countries’ delegations signed 16 memorandums of cooperation, the most important of which outline new Chinese energy investments in Greece.

One establishes an Athens branch of the Industrial and Commerical Bank of China to finance renewable energy projects. Another facilitates a 50-megawatt solar power station on the island of Crete being built with technical expertise from the China Energy Engineering Group.

In an editorial published before his arrival, Xi laid out his vision for increased cooperation “in all areas”.

Full story here .

If Greece a country that is in serious problems with debt is ready and willing to accept China’s money for development purposes why are Kenyan’s so scared of Chinese loans?
I mean, many European countries nowadays are accepting Chinese development and infrastructure loans. Let’s be serious guys.

They get better deals because the actual finance and development is done, hapa ni wizi tupu and deals that are made to trap the country and enrich some characters in the process.

Silly question. There is national concern because of strategic asset seizures when the debt is eventually defaulted.

Kenya assets risk seizure by Chinese — Moody's - The East African

I read posts like this and I want to weep. How is anyone this ignorant and dimwitted?:mad:

First off who told you that the best way out of debt default is to take on more debt??? And for development purposes at that!

God help anyone that takes your financial advice. You will lead them to ruin.

Secondly, are you even aware of how Greece got into the mess it is in? Because you clearly are ignorant on the topic.

Greek government-debt crisis - Wikipedia

Also Western Europe/the EU didn’t abandon Greece- they forced them to come to the reckoning of the self-inflicted mess that they are in. Stop the fake news please.

Greece nikama slaykwin,they think life is party after party.

British steel company was yesterday bailed out by a Chinese company too.

Exactly. The British are broke. China comes to the rescue.

British Steel to be sold to Chinese firm in deal that could save 4,000 jobs | British Steel | The Guardian

China is financing most of the world projects. Nobody else has the money to do it. USA and EU are neck deep in debt with aging populations. IMF and World Bank are full of conditionalities that make zero sense.
China is the way to go for the foreseeable future

Hakuna cha bailing hapo, it is the ruling elite in China storing looted wealth in foreign countries.

Ask yourself this: is China so rich that there is no one in the whole of China in need of those billions being used to bail out the British company?

That is a lie. It’s the same way the ruling elites in China, the princelings, invest in empty cities… investment for retirement. Hiding the loot. And they know pretty well that the poor Chinese workers live in hovels.

debt-trap diplomacy by China is well felt by sri lanka’s inability to service the debt hence having their port leased to the Chinese for 99 years.Good luck on the new kenya coastal port