2010 had Greece and Ireland receiving financial help from the Internatioanl Monetary Fund and Eurozone nations. 2011 has Spain, Germany and Britain finding help from Chinese investors as Vice Premier Li Keqiang began his European tour. Via The Jakarta Globe:
Chinese Vice Premier Li Keqiang backed Europe in its sovereign debt battle on Wednesday, starting a three-nation tour by promising to buy more Spanish government bonds.
Li, widely tipped to be the next premier, delivered a significant vote of confidence given China’s world record foreign reserves of 2.648 trillion dollars (2.0 trillion euros), much of it in euros.
On his visit to Spain, Germany and Britain he is supporting Europe’s recovery efforts and seeking to soothe global market fears of a debt quagmire spreading from Greece and Ireland to Portugal and even Spain.
[Continues at The Jakarta Globe]… Read the rest
