A fisherman near Sarakiniko beach in Milos, Greece.
The surrounding volcaniclastic rocks could be developed
for their industrial mineral applications
Greece avoided bankruptcy with the agreement of the 17 leaders of the Eurozone on 21 July 2011 for the second aid package of €158bn. Of this, €49bn will be from the participation of individuals. Many crucial details as regards the new loan have not been clarified yet, but it is obvious that Europe has given Greece a second chance, under the suffocating pressures of the markets and fears that the debt crisis may spread to the core of the Eurozone.
Debt reduction will be aided by granting rights to exploit Greece’s mineral wealth to large business groups in the US, Germany and other ‘borrowing forces’, for many decades, in return to the pre-collection of part of the expected revenues. Greece hosts a number of industrial minerals and...