GREECE’S JANUS-FACED PARADOX GIVES WAY TO EASTERN MEDITERRANEAN ‘GEOPOLITICAL WEST,’ INCLUDING ISRAEL

In the past 200 years, Hellas has been ambivalent in its geopolitical orientation. It has bounced between West and East, and, as a byproduct of this uncertainty, has also flirted occasionally with the Third World block. Israel’s discovery of natural gas and oil has elevated the Eastern Mediterranean basin to the most important geostrategic priority for Greece and Cyprus. Exploration, drilling and distribution of energy resources, and the need to safeguard them, require development of special strategic relationships with Israel and the U.S. Western Europe is undependable, as history and the recent economic crisis have again demonstrated. This leads conceptually to the notion of ‘Geopolitical West’ which encompasses Israel, and also to the end of Greece’s historic ambivalence.

Greece, Israel and Cyprus, beware. The Eastern Mediterranean basin is becoming, on its own, a hot spot of major strategic importance to the U.S., the EU and Russia.

Why, and why now?

That is the question. In connection with the recent surge in interest by a leading Arab petroleum state to invest in Greece, one wonders about the timing, the motives and the aims.

Given that Greece has had a long history of trade with the Arab Middle East, the sudden interest in pursuing large investments in Greece would seem to be a natural evolution in friendly relations.

Do you remember the amusing advertisement where an old lady growled, "Where is the Beef?" as she desperately tried to spot some in her diminished burger?

It took more than a generation to run the Greek economy to the ground.

It will take more than a couple of loans from EU and IMF – however large – and
much of their good will to elevate the Greek economy to the heights it can climb.

But three developing trends can also make a difference. They can provide push and pull power to boost the economy. All three are present today. They can be observed and measured.

Let’s step away from speculation, theories, and even educated political analysis for
a minute.