Greece

Greece's epic 2019

Illustration of an upward trending stock chart with Greek statues cheering on
Illustration: Sarah Grillo/Axios

Greek assets have been on fire this year, and more particularly in the past two weeks as investors position for a more business-friendly government to take the reins from Prime Minister Alexis Tsipras.

Why it matters: After years of being viewed as a market pariah — thrice bailed out by its eurozone creditors, limping from one austerity budget to the next — Greece last year began its road to economic recovery, with "positive developments" noted by an IMF monitor. (Though it is still the fund's 3rd largest borrower after Argentina and Ukraine.)

Expert Voices

As China expands Belt and Road in Europe, its promise could diminish

Chinese Premier Li Keqiang and Croatia'd Andrej Plenkovic on a bridge in the rain
Chinese Premier Li Keqiang and Croatian Prime Minister Andrej Plenkovic at the construction site of a Chinese-funded bridge in southern Croatia on April 11, 2019. Photo: Xinhua/Huang Jingwen via Getty Images

Greece joined China’s club of Central and Eastern European countries during the group’s meeting in Croatia Friday, in another symbolic victory for the Belt and Road Initiative (BRI) just weeks after China signed a memorandum of understanding with Italy.

The big picture: China has long insisted that this grouping, now the “17+1” format, will not undermine the European Union. But it has adopted very different investment strategies in EU and non–EU countries.