BRIEF: PUTIN COMES TO GREECEApplying STRATFOR analysis to breaking news
Greek Prime Minister George Papandreou on May 3 invited Russian Prime Minister Vladimir Putin to visit Greece in the near future. Papandreou
made the offer in a telephone conversation during which he spoke with
Putin about economic and energy cooperation. The conversation and
invitation comes after Papandreou's visit to Russia in February. The
enhanced cooperation between the two prime ministers occurs amid a Greek
economic crisis of Homeric proportions. Russia may sense an opportunity
given Greece's financial problems. Moscow in particular wants
cooperation with Greece for two key energy projects: South Stream, which
would pipe natural gas from Russia under the Black Sea into Europe, and
the trans-Balkan Burgas-Alexandroupolis pipeline, which would give
Russia an oil terminal in the Aegean sea. Moscow also wants Greece's
cooperation on pushing NATO into a more accommodating policy towards
Russia, and in consolidating its sphere of influence in Eastern Europe.
Russia attempted a similar policy during Iceland's economic collapse by
offering a 5 billion euro loan to the country. This time around,
however, Greece is in far worse shape than Iceland was, and Russia
cannot pretend that it can use its purse to help Greece outright. The
ultimate question is therefore about what Moscow is willing to put on
the table for Athens.
made the offer in a telephone conversation during which he spoke with
Putin about economic and energy cooperation. The conversation and
invitation comes after Papandreou's visit to Russia in February. The
enhanced cooperation between the two prime ministers occurs amid a Greek
economic crisis of Homeric proportions. Russia may sense an opportunity
given Greece's financial problems. Moscow in particular wants
cooperation with Greece for two key energy projects: South Stream, which
would pipe natural gas from Russia under the Black Sea into Europe, and
the trans-Balkan Burgas-Alexandroupolis pipeline, which would give
Russia an oil terminal in the Aegean sea. Moscow also wants Greece's
cooperation on pushing NATO into a more accommodating policy towards
Russia, and in consolidating its sphere of influence in Eastern Europe.
Russia attempted a similar policy during Iceland's economic collapse by
offering a 5 billion euro loan to the country. This time around,
however, Greece is in far worse shape than Iceland was, and Russia
cannot pretend that it can use its purse to help Greece outright. The
ultimate question is therefore about what Moscow is willing to put on
the table for Athens.
