Xi Jinping comes to Greece bearing gifts, lands significant new deals

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China has announced plans to dramatically increase its stake in Greece, which it sees as an economic gateway to Europe, with a suite of 16 new investment and trade agreements signed on a visit by president Xi Jinping to Athens on Monday.

The agreements include an extradition treaty – in contrast to Australia, which put a freeze on plans for its own such treaty with China over human rights concerns.

Greek PM Kyriakos Mitsotakis, who recently visited Shanghai, declared “the road we are opening will soon become a highway” and the two countries were “inaugurating a new era in our relations”.The agreements include a pledge to “overcome any obstacles” in a planned huge expansion of the port of Piraeus, which majority Chinese owner COSCO says it wants to turn into the biggest harbour in Europe.

COSCO plans to spend hundreds of millions of euros in the next three years, acquiring a bigger stake in the port and underwriting construction projects including a new cargo terminal funded by European Investment Bank loans.Two Chinese banks were to open up Athens branches, and the countries also announced new direct air links which Mitsotakis said would bring 500,000 Chinese tourists to Greece.

 

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They will just buy there way around the world

The next Cambodia?

Greece have given their keys to China like our man Dan......They are the landlords now.

Alcohol was my gateway.

Economic gateway or economic weak spot?

China's just bought British Steel. Money is the gateway, not Greece

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