Chinese Vice Premier Wang Qishan (2nd R), European Commission Vice President in charge of competition policy Joaquin Almunia (2nd L), Trade Commissioner Karel De Gucht (1st L) and Commissioner for Economic and Monetary Affairs Olli Rehn (1st R), attend the press conference on the Third China-EU High Level Economic and Trade Dialogue in Beijing, capital of China, Dec. 21, 2010. (Xinhua/Xie Huanchi)Euro Rises As China Supports EU Debt Action -- The Telegraph
The euro bounced back on Tuesday, as support from China's Vice Premier over the EU's handling of the debt crisis saw the currency rise against 14 of its 16 most traded counterparts.
Speaking at a one-day economic relations and trade forum in Beijing, Wang Qishan said that China supported the European Union's efforts to try and take control of Europe's spiralling debts.
He said that the EU and IMF had "taken concrete action to help some EU members counter the sovereign-debt crisis.”
The euro rose 0.36pc against the dollar to $1.317 on Tuesday morning, and edged up 0.26pc against the yen to 110.20, after falling to its lowest level in two weeks on speculation some European nations will struggle to raise funds amid a raft of credit-rating and outlook changes.
Read more ....
More News On China Assisting The EU In It`s Debt Obligations
China supports EU efforts to ease debt crisis -- Reuters
China vows to step up help to tackle euro crisis: report -- Reuters
Euro Rises; China Supports EU Measures -- Wall Street Journal
The Overnight Report: China To Rescue Europe? -- NineMSN
China, EU reach "important consensus" at economic, trade talks: vice premier -- Xinhuanet
China worried about European debt -- AFP
My Comment: Money talks .... bullshit walks. For the Chinese .... their vast financial holdings are doing all the talking for them.
On a side note .... where are the Americans?
Answer .... the Americans have bigger problems.