Greece Should Be Wary of Mr. Putin

By THE EDITORIAL BOARD

APRIL 7, 2015

The New York Times

The Greek government is facing a series of daunting challenges. It has to come up with money to pay off maturing debts, revive its devastated economy and renegotiate its loan agreements with other countries in the eurozone. Given those difficulties, it might be tempting — though misguided — for Prime Minister Alexis Tsipras to seek financial or other support from President Vladimir Putin of Russia, whom he is scheduled to meet in Moscow on Wednesday.

Greece and Russia have close historical and cultural ties that are based in part on a common religion, Orthodox Christianity. It’s not surprising that Mr. Tsipras, whose party formed a coalition government in January, would meet with Mr. Putin. But the timing of his visit, coming just a day before Greece must repay a loan of 458 million euros (about $503 million) to the International Monetary Fund, and his earlier statements criticizing the European Union’s economic sanctions against Russia have raised questions about what he intends to achieve.

What seems clear is that Greece cannot count on Russia to ride to its financial rescue. The sharp drop in oil prices and, to a lesser extent, Western sanctions have damaged the Russian economy and limited Mr. Putin’s ability to dole out aid to other countries. Russia’s foreign exchange reserves totaled $360 billion at the end of February, down more than $100 billion since August, according to the Bank of Russia. And the I.M.F. estimates that the Russian economy will shrink 3 percent this year.

Greek officials have told journalists that Mr. Tsipras will not seek financial aid from Russia. But he has also said that European sanctions against Russia for its aggression in Ukraine are a “dead-end policy.” That stance is seriously harmful because the sanctions are having a real impact on Russia and should be maintained. But they have to be renewed periodically and all members of the European Union — including Greece — have to agree to extend them.

Mr. Putin has shown a keen interest in exploiting divisions within the European Union for his own gain. For example, he has recently courted the government of Cyprus by providing it a loan and reaching an agreement that allows Russian warships to dock at a commercial port in that country. Mr. Putin has also cultivated Prime Minister Viktor Orban of Hungary as an ally. And, last year, a Russian bank lent money to the far-right National Front party in France, which is gaining popularity in that country and says it would want France to leave the eurozone if it came to power. It would be a public relations triumph for Mr. Putin if Mr. Tsipras publicly criticized the sanctions while he was in Moscow.

Mr. Tsipras and Mr. Putin are expected to talk about business and trade. Russia would like to build a new gas pipeline to Europe through Greece, and the Greek government wants Russia to offer it a discount on gas purchases and to roll back a ban on Greek fruit exports that is part of Mr. Putin’s retaliatory sanctions against the European Union.

If Mr. Tsipras appears to cut deals with or support Mr. Putin when the European Union is trying to maintain a united front on Ukraine, he will only further alienate Germany, France and other European countries. His government’s relations with those nations are already frosty, and it needs the help of those countries to revive the economy and keep Greece in the 19-member eurozone.

Most Greeks want to keep the euro, and leaving it could severely damage the economy and financial system. Of course, Germany and other eurozone members also need to work more constructively with Mr. Tsipras. They can start by granting Greece more flexibility in how and when it repays its debts and how it reforms its economy.

Mr. Putin clearly wants to lock arms with any leader who appears at odds with the European Union. But Mr. Tsipras should be careful not to let himself be used to undermine European unity.