9862 - EEZ as economic tool

N. Lygeros
Translated from the Greek by Evi Charitidou

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As we get prepared for proclaiming the Greek EEZ, namely for materializing the first stage, we already have to study its strategic depth as well. This may take place by examining foreign cases. Other states have considered EEZ to be an economic tool. At this period, due to economic difficulties Italy puts emphasis on block charting, to allot sea areas to foreign companies for extracting hydrocarbons. For, Italy realizes that this is the most efficient way to create liquidity by strategic investment. And for this reason the timing is good for our country as well to have a joint exploitation in the Ionian Sea at the ‘Pyrros’ deposit, which is situated exactly on the limits of the two countries’ EEZs. Another case is France with French Guiana, in the EEZ of which she found a hydrocarbon deposit and now there is a Shell-Total joint venture in the area. Another case with larger strategic depth is the Arctic region, where there are 8 countries, who decided to put aside the continental shelf issue in order to rationally deal with Russia’s claiming. Due to the size of the Arctic deposits, the EEZ notion constitutes ‘Nash equilibrium’ for these countries according to the median line method, of course. In fact, it is this case which essentially obliges the United States of America to finally sign the UNCLOS. Moreover, the European Union actively participates in this case; directly because of Denmark and indirectly because of Norway. These elements reinforce our concept on EEZ and on its efficiency as an economic tool for our country. So, let’s set aside all irrelevance and servility, trying to delay us in the process of proclaiming the Greek EEZ, to be able as soon as possible to help our Greece exit this state of trespassing pressure. In our region we have the Cyprus example and the issue’s routing attained by S. Kassinis, who will in practice assist our own efforts as well in favor of both Greece and Cyprus. Delaying, when you lack expertise, is justified, but when you have all necessary tools at your disposal, then it is criminal. So, we are not going to let this be committed and we will dynamically continue struggling for the Greek EEZ until its being materialized.