China Doubts European Bail Out

Fu Ling, was quoted in the state media:

“The argument that China should rescue Europe does not stand, as reserves are not managed that way…Foreign reserves are not domestic income or money that can be disposed of by the premier or finance minister…Foreign reserves are akin to savings, and their liquidity should be ensured.”

Although she and officials with China’s sovereign Wealth Fund did not rule out buying the bonds, the size, shape and guarantees associated with the bond offerings would also be considerations.

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