(H/T LSU Jeff for Tweeting this story)
The Greek capital city of Athens has long been served by the nearby port of Piraeus. Due to a deal signed today, control of Piraeus will be transferred to China. Under the terms of the deal, the Greek government will sell a 67% stake in the port for 368.5 million Euros to the shipping company COSCO, which is owned by the Chinese government. Workers at the port have staged a protest march. COSCO was the sole bidder.
In my own travels, I've sailed out of Piraeus twice, most recently almost ten years ago. Back then, I could never have imagined the port being sold to a Chinese company. But due to more recent developments, I can understand why the Greeks might want an infusion of cash.
Read more at Russia Today (which Jeff Tweeted), Reuters and AP The Big Story.