Home > China Pledges Continued Support for European Debt
Economy-budget International Europe
China Pledges Continued Support for European Debt
26/06/2011
Chinese Premier Wen Jiabao on Saturday said China will continue to buy euro-denominated bonds to support Europe, in China’s latest public endorsement of the efforts to contain a potential debt crisis in the common currency area.
The remarks by Mr. Wen, who was in Budapest on a five-day European tour that will also take him to London and Berlin, came as European leaders wrangle over mechanisms to provide fresh financing to Greece and head off a potentially destabilizing default by the country. Many European leaders see Chinese support as a key booster for market confidence in their sovereign finances, as well as a sign that China could diversify more of its massive foreign-exchange reserves into euro-denominated assets...
Continue to read:
http://online.wsj.com/article/SB10001424052702304569504576407282422981482.html?mod=googlenews_wsj