Wednesday, October 26, 2011

Massive EU exposure... obviously effecting firms such as MF Global in the states...but in this late hour it is the Paper Dragon who is making the news. This is clearly in China's best interests to keep the lights on in the factories making all those "goods".

Oct. 26 (PTI) -- China has agreeed to invest in Europe's bailout fund, two senior EU diplomats told AFP today hours from a crunch summit on the eurozone debt crisis.

"China is in," said one of new plans to boost the European Financial Stability Fund (EFSF) with a spin-off investment vehicle to be used to prop up debt-laden nations.
"But not yet Brazil, Russia, India or South Africa," he added, referring to the four other countries in the BRICS group of emerging powers.
The diplomats gave no indication as to the scale of China's likely investment, although an EU official said EFSF chief executive Klaus Regling would leave for Beijing tomorrow, after the summit.

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