In the News

Looking East

In an attempt to alleviate its soaring public debt, Greece is turning to China for help. Greece hopes to convince Chinese officials that buying up to 25 billion Euros of Greek government bonds would be a good investment.

However China is not sold on the idea at this point, given that it already holds a “significant “amount of Greek debt and is weary of adding more, according to people familiar with the negotiations. While Greek officials recently rejected the suggestion that a Chinese bank acquire a strategic stake in the National Bank of Greece, negotiations continue and officials remain hopeful for a resolution.