“China State Official Hints Beijing May Bailout Greece”
2 July 2015
While Europe (and much of the west) shakes their heads at Greece’s referendum vote against the EU bailout offer, in the east, the aparatchiki and the mandarins are likely rubbing their hands together in anticipation of a foreign policy coup.
The always thoughtful and often weird folks at Zero Hedge have hinted that Beijing may be planning to step into the Greek Breach with loans, and recently suggested that Russia and China may together form Greece’s bailout.
My bet is that this has been the plan for some time, and that the referendum has simply been a play to lay the domestic political groundwork for that plan to be put into action. When the time comes that there are no more terms to be had from Europe, Alex Tsipras can present the Asian superpowers as the answer to the EU’s austere terms. It would be a fair wager that the Greek people are unlikely to be too picky, as long as they don’t need to cough up any lifestyle changes.
The geopolitical opportunities of having Greece in either a Russian sphere of influence, an Chinese one, or in both are significant. At the very least it would ensure that the Russian Navy and the PLAN would have forward operating bases in the Mediterranean.
This may not happen overnight, or on this round. But Russia and China are playing a long game with Athens (and vice-versa,) one that the EU will likely not ignore as it debates terms for Greece and contemplates problems in Italy and Iberia as well.