Curiouser and curiouser

Posted by Antonis D. Papagiannidis 10/04/2018 0 Comment(s) Economia Blog,

Somedays ago, the joint effort of (US-based) Exin Partners and Calamos to acquire a controlling 75% of major Greek insurer Ethniki Asfalistiki came apart; promptly afterwards, the interest of (Chinese) Fosum to go forward with the deal was reiterated.


In the weeks to come the Kastelli Airport – a major greenfield infrastructure project, to replace the old and decrepit Heraklion Airport at top-heavy tourist-interest Crete – is expected to get the final “go” at Brussels; it will be built and operated by a consortium of (Indian) GRM Airports along with major Greek constructor GEK/TERNA. Meanwhile, the Piraeus port being under the control of (Chinese) Cosco for some years now, its Thessaloniki counterpart passed at the hands of (Russian-controlled) Greek-descent tycoon Ivan Savvidis, along with rather nebulous French and German interests.


True enough, Greek train operator OSE is in the hands of (Italian) Ferrovie dello Stato and regional airports are to be revamped and run by (German) Fraport. Then again a 24% share at the operator of Greece’s electrical grid has been in the hands of (Chinese) State Grid.


So, if the new regulatory framework to “screen” foreign direct investment that is discussed now at European Parliament level comes into force, Greece may well come under scrutiny for its eagerness to be (and stay) open to extra-EU capital. A good thing or a bad thing? At any rate “curiouser and curiouser” would have said Alice, in Wonderland.



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