Here’s the drill: Chinese Prime Minister Wen Jiabao has offered to buy Greek government bonds and pledged support for cash-strapped Athens as it looks to make Greece the center for its exports in south-east and eastern Europe.
So to recap, Europe cuts the initial deal. We fork in a bunch of billions. The storm lessens, but the damage remains. In swoops China to make the final reparations and take the booty.
Here’s the initial structure of the deal with devil:
Greece needs widespread foreign investment to help it fulfill the terms of a 110-billion-euro ($150-billion) bailout which saved it from bankruptcy in May but also forced Athens to impose strict austerity measures, which deepened recession in the country.
The Chinese premier arrived in the Greek capital with a delegation of ministers and businessmen in tow, including Cosco head Wei Jiafu and central bank governor Zhou Xiaochuan.
After signing agreements on investment and tourism with his Greek counterpart George Papandreou, Wen announced the creation of a 3.6-billion-euro fund to help finance the purchase of Chinese ships by Greek shipping companies.
Boy howdy. Nice investment, Obama. Payback to your masters, eh?
http://libertypundits.net/article/china ... mfortable/
OOOOhhhh baby baby it's weird woooorrrllldd!
