In an article he wrote in Financial Times on 18 February 2015 Alan Beattie argues that China has very little need to go all-in with large-scale lending to Greece. In hiew view, China has interests in protecting – and if possible extending – its investments in Greece but the sums involved are tiny compared to the sovereign debt issue. Alan Beattie explains that even if the privitization of the Piraeus Port Authority will not be blocked by the new Greek government, the amount of money will be tiny compared to Greece’s official external debt. That is because the privatisation of the rest of the port is likely to reach less than €1bn.
February 18, 2015