China is ready to save Euro.
As reported by MarketLeader(US)
China is ready to help the EU to combat the debt crisis and promises to support the IMF as it is going to subsidize the Euro zone.
As the result of this week’s talks with China, the EU authorities have announced that China will assume specific measures, meaning purchases of the treasury bonds issued by the risky Euro-zone countries. It is believed that Beijing is going to allocate €4-5B to buy a share of Portuguese bonds. Previously China purchased Greek bonds.
It should be noted that China owns the world’s biggest gold-and-currency reserves. The Chinese authorities are constantly trying to diversify them in order to reduce the dependenceon the declining US Dollar.
Discussing " Market Leader" article