Is the US about to offer Greece a poison pill? EU debt deal but Greece must stop Turk Stream project

The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

The G7 summit due on June 7-8 in Castle Elmau in the Bavarian Alps is about to kick off.

In attendance Germany, France, UK, and Italy. Also present will be the United States.We all know who gives the orders and who takes them.

The European vassal states may have to implement one specific order from their American master that may not be to their liking, ‘let Greece off the hook’…for which Merkel, Hollande and Cameron will have to oblige.

What would prompt Washington to come to Greece’s rescue? Simple, it’s called Turk Stream.

Washington’s goal is to keep Turk Stream from morphing into Greek Stream, and eventually into South Europe Stream.

Fearing that the Russian gas pipeline set to transit Turkey, is now finding safe haven on EU shores in Greece, Washington is pulling all the stops to prevent Athens from moving ahead with one of the few viable investments to come to Greece in six years of EU back breaking austerity.

In exchange for Greece’s agreement to halt its energy aspirations and partnership with Russia, Obama will deliver a debt deal to Tsipras’ liking. Of course stopping the Greek Stream project would torpedo much of Greece’s economic future. Greek Stream has the potential to transform the Southern Mediterranean nation, from a bankrupt EU whipping boy, into a regional energy power broker, netting Athens hundreds of millions of euros in transit fees and sparking massive growth and development in Northern Greece.

To compensate Greece for its economic loss should it swallow America’s poison pill, Washington is ordering Greece to focus on the Trans-Adriatic Pipeline (TAP), an inferior, drastically smaller scale project. It’s like passing up on a Ferrari, and being offered a moped instead.

Ekathimerini reports…

Washington increased the pressure on Athens on Friday to concentrate on the completion of the Trans-Adriatic Pipeline (TAP) rather than devote efforts toward the extension of the planned Turkish Stream pipeline so it runs through Greece.

“What we agreed on is it’s important to focus on what projects are on the table today and that is TAP, that will interconnect to the Azerbaijani pipeline. That is what’s on the table for Greece today,” Amos Hochstein, the US special envoy for energy affairs, said after talks with Energy Minister Panayiotis Lafazanis and State Minister Nikos Pappas.

The TAP pipeline is being built to transport natural gas from Azerbaijan to Europe, crossing through Turkey, Greece, Albania and the Adriatic Sea. Turkish Stream, which is backed by Russia but is yet to get off the ground, aims to carry gas from the Black Sea to Turkey. Athens is in talks with Moscow over extending the pipeline so it runs across Greece and to other parts of Europe.

“Turkish Stream doesn’t exist. There is no consortium to build it, there is no agreement to build it,” said Hochstein. “So let’s put that to the side, and wait until there’s some movement on that and see if that’s relevant or not relevant and in the meantime focus on what’s important – the pipeline we already agreed to, that Greece already agreed to.”

After the meeting with the US envoy, Lafazanis said the government would continue to back the Turkish Stream project because it believes it will be “useful” for Greece.

The Greek Energy Minister is holding firm in his position, he is no fool. Unfortunately for him, we all know what Washington does when it cannot find fools to carry out its policy.

Via Sputnik News Agency…

The Greek Ministry of Environment and Energy condemned the latest claims by US State Department Special Envoy and Coordinator for International Energy Affairs Amos Hochstein. The ministry called the claims an unacceptable interference in Greece’s domestic affairs.

During the 31st convention of the International Coordinating Committee “Justice for Cyprus”, Hochstein demanded construction of the gas pipeline from Turkey be stopped. He claimed that the pipeline would undermine alternative plans to supply energy resources to Europe and increase reliance on Russia.

“We are dealing with the energy crisis in Europe. If Greece continues to promote a pipeline for supplying Russian gas to Europe, it will be part of the problem, not a solution,” Hochstein said.

According to him, Central and Eastern European countries buy gas from only one supplier, but now it is possible to diversify shipments and “Greece would play a major role” in the diversification.

“This is an unacceptable interference in Greece’s domestic affairs. Our government makes its decisions taking into account country’s national interests and on behalf of the Greek people,” sources in the Energy Ministry told RIA Novosti.

According to the sources, any pipeline transferring Russian gas through the Greek territory would contribute to the diversification of gas supplying routes and bolster cooperation and energy security of all European countries.

In early-May, during his visit to Athens, Hochstein opposed the construction of a new gas pipeline, instead of the South Stream project, to deliver Russian gas to Europe. Greek Energy Minister Panagiotis Lafazanis said, in his turn, said Greece stands for the construction of a pipeline in its territory from the Greek-Turkish border to supply gas from Russia because it would serve country’s national interests.



The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.

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