Tweet
Maybe we can start seeing some professionalism now?
Sunday, 03 October 2010
France and Germany are facing stiff competition from the far East.
China offered on Saturday to buy Greek government bonds when Athens resumes issuing, in a show of support for the country whose debt burden pushed the euro zone into crisis and required an international bailout.
Premier Wen Jiabao made the offer at the start of a two-day visit to Greece, his first stop on a tour of Europe, and also said he wanted to boost shipping and trade ties with Athens, underscoring Beijing's use of economic strength to win friends.
"With its foreign exchange reserve, China has already bought and is holding Greek bonds and will keep a positive stance in participating and buying bonds that Greece will issue," Wen said, speaking through an interpreter.
"China will undertake a great effort to support euro zone countries and Greece to overcome the crisis."
Wen and his Greek counterpart George Papandreou said in a statement the world's nations need to coordinate their economic policies for global recovery to find a sure footing.
"The global economy shows signs of gradual recovery but many uncertainties remain," the two leaders said in the statement, issued on Saturday by Papandreou's office after the two men met in Athens.
In addition to seeing economic opportunities in Greece, China may calculate its support of a struggling European country will help deflect international criticism of its trade policies and its refusal to let its yuan currency appreciate sharply.
Wen did not specify how much Greek debt China would be willing to buy or which Chinese entities would buy the bonds.
Chinese state entities have been generally conservative about investing in foreign financial markets and the Chinese government faces domestic political criticism over losses incurred by these entities during the global financial crisis.
Sunday, 03 October 2010
France and Germany are facing stiff competition from the far East.
China offered on Saturday to buy Greek government bonds when Athens resumes issuing, in a show of support for the country whose debt burden pushed the euro zone into crisis and required an international bailout.
Premier Wen Jiabao made the offer at the start of a two-day visit to Greece, his first stop on a tour of Europe, and also said he wanted to boost shipping and trade ties with Athens, underscoring Beijing's use of economic strength to win friends.
"With its foreign exchange reserve, China has already bought and is holding Greek bonds and will keep a positive stance in participating and buying bonds that Greece will issue," Wen said, speaking through an interpreter.
"China will undertake a great effort to support euro zone countries and Greece to overcome the crisis."
Wen and his Greek counterpart George Papandreou said in a statement the world's nations need to coordinate their economic policies for global recovery to find a sure footing.
"The global economy shows signs of gradual recovery but many uncertainties remain," the two leaders said in the statement, issued on Saturday by Papandreou's office after the two men met in Athens.
In addition to seeing economic opportunities in Greece, China may calculate its support of a struggling European country will help deflect international criticism of its trade policies and its refusal to let its yuan currency appreciate sharply.
Wen did not specify how much Greek debt China would be willing to buy or which Chinese entities would buy the bonds.
Chinese state entities have been generally conservative about investing in foreign financial markets and the Chinese government faces domestic political criticism over losses incurred by these entities during the global financial crisis.
.
Comment