CRISIS? GREECE RICH IN SUN

Germany keen to buy solar-generated electricity from Greece
September 11, 2011 (AFP)

"Greek Prime Minuster Georges Papandreou confirmed Sunday that Germany was keen to import solar-generated electricity from debt-ridden Greece…[He will] travel to Germany late this month to discuss the project with Chancellor Angela Merkel during a meeting of German industrialists…

"Papandreou spoke of a ‘huge interest’ by the Germans for Greece's renewable energy resources in view of of their plan to phase out nuclear energy and doubts about the political stability of Arab Mediterranean countries…[just as many said] Europe could no longer rule out an ‘orderly default’ for Greece as it struggles with a crippling debt crisis…"

Helios, Greek sun deity and Colossus of Rhodes (click to enlarge)

"After a recent visit by a German official as part of a joint bid to boost investment to spur a Greek recovery, the German environment ministry said it was looking into a project to set up 20,000 hectares of photovoltaic systems to turn solar energy into electricity for export to Germany.

"…[T]he mammoth project dubbed ‘Helios’ (the Greek God of the sun) would have an initial budget of 20 billion euros and would create between 30,000 and 60,000 jobs in Greece…"