LONDON: Any European expectations of a " red knight" riding to the rescue of the euro zone are "sorely misplaced", a former member of China's central bank monetary policy committee wrote in an oped piece in the Financial Times on Tuesday.
Yu Yongding said China was willing and able to help and would be "happy to invest in EFSF bonds in a measured way, as it has already done. If a eurobond should emerge, China should also invest."
But he said: "For Beijing, financial decisions should be based on financial considerations. Do not blame it if China's help is short of your expectations. China has never claimed it can save you from the debt dragon - and, on its own, it will not."
http://economictimes.indiatimes.com/articleshow/10564757.cms
Tuesday 1 November 2011
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