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NEWS > EVERYONE ELSE > CHINA IN EARLY NEGOTIATIONS TO BUY GREECE
CHINA IN EARLY NEGOTIATIONS TO BUY GREECE
June 21 2010
Athens, Greece – Foreclosure has to be one of the most traumatic events for any person. Working your whole life to achieve success, to purchase land and a homestead, only to have it all taken away in an instant. The feeling of hopelessness 
and loss, the feeling that all of those years of hard work and investment have gone down the tubes can drive even the strongest and most determined of people into despair. That story has been repeated over and over again all across the world in the last few years with millions of foreclosures turning lives and dreams upside down, never to be recovered.
Perhaps the greatest tragedy in this economic crisis has been the foreclosing of the nation of Greece. Their downgrade to junk bond status and a burden around the neck of the rest of Europe has been one the greatest financial collapses in history. Greece of course was not built over a lifetime but over thousands of years, built on the backs of millions of people. Her collapse has driven an entire people into despair and threatened the history of one of the greatest nations in human history. Now though the nation appears to have a saviour in the form of another great nation, China, which has been rapidly buying up property throughout Greece at bargain basement prices and making moves that may result in a wholesale purchase of the nation.
“This is really nothing new for China. They have been buying up property and investing in nations throughout the world for a long time. Like any smart economy they are trying to diversify their investments to try and stave off things like economic collapse. They are also looking to potential opportunities like any smart investor,” said Dick White, a foreign exchange trader based in London. “The difference with Greece is that they are looking at purchasing on a much higher level. The prices are rock bottom throughout the nation and almost no one wants to buy in. There was a lot of talk from Germany, obviously, but the political climate there has put that on hold. China though has no such issues and they are here to buy.”
On a recent four-day trip to the country, Vice-Premier Zhang Dejiang made no fewer than 14 new investments in the country.
“Obviously sees some long term potential in Greece. The long history of the nation would seem to support that speculation but her recent history is a little shakier. Few jobs, low levels of education and a populace on the verge of exploding are all bad signs for investors,” continued White. “Of course there are other reasons and other benefits to buying up land in Greece such as expansion. The population of China proper is expected to go down in the next few years but as they rapidly modernize they will need more space and the best way to do that is to expand to other nations. Greece may not be the biggest or the closest but they are, for the moment, the cheapest.”
Spain and Portugal are also reportedly close to the chopping block. Chinese delegations have been seen in both nations recently.
“The biggest question in purchasing Greece is what to do with the people already living there. In the long term interbreeding would make sense but that will take generations and at the rate China is growing they really don’t have that long. They need space and they need it now and so they will likely just have to kick out the squatters,” said Scrape TV International analyst Gustav Hander. “At the rate things are going there is going to be a lot of land up for grabs and with all that free cash I think China’s space problems will be solved in very short order, perhaps in the next five years or so. I for one welcome our new overrords.”
Greek officials were unavailable for comment due to dinner plans at the local Chinese place.
Emil Uliya, International Correspondent
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