China Might Not Be Able To Help Italy
Submitted by Gurpreet Singh on Tue, 09/13/2011 - 15:13
The Eurozone is undergoing crisis since long time, and hence, concerned authorities, officials and government is seeking help from various countries across the world. It has recently been reported that China might not be able to help Italy get out of debt crisis.
This has been estimated by the analysts after there was a slight rally seen in the world markets, after the meeting between China sovereign -wealth officials.
This meeting was held in order to urge China to help Italy by buying their bonds in large numbers. The meeting was held between Lou Jiwei, the Chairman of the Sovereign Wealth Fund in China. Also present in the meeting were officials from the State Administration of Foreign Exchange from China, which is a watchdog of Chinese currency.
The Chinese firms were of the view that they would not be taking any further action on the order. It was revealed by Jiang Yu, the Foreign Ministry spokesperson that they were confident of the financial stability of the Eurozone and that they hope it can regains its lost poise soon, so that they take measures to ensure the safety of Chinese investments in their nation.
"Other European countries do not want to see a fire sale of strategic assets by Greece and Italy to China". "If they see that happening, it raises the chances they will increase their support", said François Godement from the European council.
