The Only Remaining Boom Sector

Germany will now control Greek infrastructure for 40 years, via a majority state-owned company. If anyone questions a resurgent Germany and its conquest of Europe again, they need to reassess and look at the hard evidence. It isn’t called the Fourth Reich here loosely.

BERLIN/ATHENS (Own report) – The German Fraport Company is preparing, under very strong protests from Greek trade unionists, to take over the operation and management of 14 of Greece’s airports. The concessions, which Fraport was awarded back in late 2015, will entrust the German company with the operational and management functioning of Greece’s most profitable regional airports – for a duration of 40 years. Annual profits are estimated to begin at 90 million Euros. The Greek state with retain 23 regional airports, including several that are in acute deficit, but must still be expensively maintained, as links between remote islands and the Greek mainland. One of the most powerful Greek oligarchs has a share not only in Fraport’s profits from the current takeover, but has for years been involved in operating the Pulkovo Airport in St. Petersburg. Fraport is one of the few German companies still investing in Greece. Many others are withdrawing from the country. The country’s crisis had led to a massive reduction in consumption, which does not permit attractive profits. The most important exception to this rule is the tourism sector, from which the Fraport airports can make profits in processing vacation flights. Continue reading

Israel’s natural gas reserves reshape Middle East dynamics

As the prospects of another war in the Middle East increase, one country is looking to cut its energy ties with the region and manage its own needs, thanks to newly discovered gas riches.

Indeed, the recent discovery that Israel’s offshore natural gas reserves are far larger than previously thought has the potential to revolutionize the country’s economic fortunes. The find could save Israel tens of billions of dollars in energy imports from Egypt and other places, and see it positioned as a new natural gas source for Europe, one of the world’s largest LNG markets.

According to the U.S. Geological Survey, recoverable natural gas in the Levant Basin located in Israeli and Cypriot waters of the eastern Mediterranean Sea, amounts to a massive 18.9 trillion cubic feet. Continue reading