Putin: Russian pipeline project to help Greece pay its debt

[Judi Lynn]

Source: Associated Press

Putin: Russian pipeline project to help Greece pay its debt
By SANDY MACINTYRE and NATALIYA VASILYEVA, Associated Press | June 19, 2015 | Updated: June 20, 2015 9:12am

ST. PETERSBURG, Russia (AP) — Russian President Vladimir Putin said after Friday's talks with Greek Prime Minister Alexis Tsipras that a prospective Russian natural gas pipeline should help Greece service its debt, but the Kremlin said the question of direct Russian financial aid to Greece was not discussed.

Speaking of the pipeline deal at a meeting with top executives of global news agencies, including The Associated Press, which began nearly three hours behind schedule at around midnight, Putin said he saw no support for the Greeks from the EU.

"If EU wants Greece to pay its debts it should be interested in growing the Greek economy ... helping it pay its debts," he said. "The EU should be applauding us. What's wrong with creating jobs in Greece?"

Greece is struggling to reach a deal with its creditors for new loans that it needs to avoid defaulting on debt payments at the end of the month. Without the bailout, Greece could be headed for bankruptcy or an exit from the 19-nation eurozone.




Read more: http://www.chron.com/business/energy/article/Greece-signs-deal-with-Russia-to-build-gas-6337113.php

[yallerdawg]

1. Tsipras got game!

Who would like to see the EU fall apart? Who does Tsipras go to see?

The rich EU partners could help jump start Greece's economy again instead of austerity punishment.

Putin may be the incentive the EU needs to do the right thing.

[cstanleytech]

2. Wont sanctions against Russia for invading the Ukraine prevent this deal?

And if Greece ignore sanctions itself to do such a deal could the EU impose sanctions then on Greece itself as punishment?

[yallerdawg]

3. From article:

Russia and Greece signed a deal Friday to build an extension of a prospective gas pipeline that would carry Russian gas to Europe through Turkey. Russia promised Greece hundreds of millions of dollars in transit payments yearly if it agreed to build the pipeline. Construction of the pipeline is expected to start next year and be completed in 2019.

Apparently EU sanctions are...flexible?

[delrem]

5. The EU isn't entirely onside with PNAC/neo-conservative plans.

The EU isn't a monolith of extreme right-wing militarism as is the USA.
There's a division of interests.
The US seems only capable of hard military/economic force, to get what it wants - of using the "hard power" of the dominant, taking advantage of that dominance - of being the world's #1 bully. The US is making a mess (esp. with wars of choice), and the rest of the world, including US allies, have to respond and are responding.

Russia is a very valuable member of the Eurasian continent.
Russia, China and India (esp. being the largest) are building their own economies, their own economic pacts, and they will of course respond to military/economic aggression with soft-power countermeasures. Together, they are very rich. It makes sense for them (not just Russia!) to step into the void left when the EU disintegrates and eats its own.

[delrem]

4. The world economy is bigger than NATO and the EU, and their new cold-hot war.

Greece is globally situated to take advantage of the rise of China's, India's, and the Russian economies. So are many other countries.

[JDPriestly]

6. My view precisely.

[polly7]

7. There's also this ...

Greece Invited to Join New BRICS Development Bank

Published 12 May 2015

Greece could become the sixth member of the BRICS Greek Prime Minister Alexis Tsipras will reportedly participate in the World Economic Forum of St. Petersburg after being invited by Russia on Monday to become the sixth member of the BRICS Development Bank.

The Greek prime minister was invited to join the BRICS after a phone call conversation with Russian Finance Vice-minister Serguéi Storchak, RT reported.

Tsipras has shown interest in the proposal and will join the BRICS countries in June at the forum in St. Petersburg to discuss the possibility.

If Greece agrees to join the new Development Bank, the country would become its sixth member alongside Brazil, Russia, India, China and South Africa. The BRICS Development Bank is a new initiative that will help BRICS member states lessen their dependence on the IMF. The bank will have a $100 billion foreign currency reserve for the BRICS, which would protect national currencies from the volatility of global markets.

RELATED: The IMF's Struggle for Relevancy

The BRICS group of nations includes five of the world's largest developing economies: Brazil, Russia, India, China and South Africa. China will be the largest contributor to the reserve pool with $41 billion followed by Russia, Brazil and India with $18 billion each. South Africa is expected to invest another $5 billion, RT reports.

http://www.telesurtv.net/english/news/Greece-Invited-to-Join-New-BRICS-Development-Bank-20150512-0039.html

[quadrature]

8. this is extortion.. Greece is playing both sides of the fence...nt

[dembotoz]

9. Given the circumstances it would be the logical thing to do