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South Lorne

China - Euro Will Not Fall Apart - Pledge Of Support

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...the Lone Ranger rides to rescue.... :rolleyes:

'The euro will not fall apart': China pledges to support single currency and bring Greek crisis under control

China has signalled that it will not let the euro 'fall apart' as it pledged to continue buying government bonds from debt-plagued EU nations.

As China premier Wen Jiabao embarks on a three-day visit to Europe, Laurence Lau, the head of China's £300bn sovereign wealth fund, said that 'There is nothing to be worried about. The euro will not fall apart'.

The encouraging tone will be welcome across the continent where the single currency nations are fighting to prevent Greece defaulting on money owed through government bonds.

It is feared a default will trigger a domino effect across the continent as banks and other nations suffer losses.

Mr Lau said that the Greek debt crisis will eventually be brought under control and be solved.

In Hungary, Wen Jiabao said on Saturday he was 'still confident' that Europe can overcome the debt crisis and that China would remain a long-term investor in Europe's debt market.

It is estimated that China holds some $.3.05trillion of euro denominated assets and the country will be eager to uphold confidence in the region.

China has even bigger holdings of US dollar assets. China dollar buying has been behind America's ability to run a huge budget deficit over the past decade.

Experts say that China will be keen to support the euro, but that governments needed to act quickly to ease their debt exposure

.

http://www.dailymail.co.uk/money/news/article-2008290/The-euro-fall-apart-China-pledges-support-single-currency-bring-Greek-crisis-control.html

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'China holds some $3.05 trillion in Euro denominated assets'

So their choice is just to let it go or throw good money after bad. It's a classic innit!

....it's their way forward on the USD also.... :rolleyes:

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Winkie and south lorne on the same thread. I sense an overload of overused and patronising emoticons.

:rolleyes:;)

Not to worry Injin, its only "fiat" currency.

tongue.gifcool.gif

Edited by John Steed

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The Euro features prominently in China's plan for a new reserve currency to replace the dollar so they would say that wouldn't they?

Even the 'markets' aren't daft enough to buy into this one are they?

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tongue.gifcool.gif

What, no sweating Chinaman emoticons?

(= =;)

-

Sorry it's the best I can do....

Edit...bloody hell, you can't even DIY!

Edited by council dweller

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China isn't commited to supporting the euro, it's commited to future asset stripping critical infrastructure in europe.

The Eurozone will beg them to be buyer of last resort for european bonds, and china, with the full knowledge - even/especially at the time of purchase that the debts are unpayable, both principal and interest.

Then they can sit back, and at the point of maximum panic, demand the ports, the rail infrastucture, communications.

And not a shot fired... all done through zapping 1's and 0's through the financial system.

And if Europe refuses to hand over this stuff, then it's war - trade barriers, or physical, possibly with the aid of the USA, who would fancy stiffing the Chinese on their debts too.

This would suit the Euro elites, since the enemy then comes from the outside - they would much rather have the Chinese as enemies, rather than their own soverign countries and peoples.

A perfect opportunity to exploit the crisis for greater eu federalism.

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China isn't commited to supporting the euro, it's commited to future asset stripping critical infrastructure in europe.

The Eurozone will beg them to be buyer of last resort for european bonds, and china, with the full knowledge - even/especially at the time of purchase that the debts are unpayable, both principal and interest.

Then they can sit back, and at the point of maximum panic, demand the ports, the rail infrastucture, communications.

And not a shot fired... all done through zapping 1's and 0's through the financial system.

And if Europe refuses to hand over this stuff, then it's war - trade barriers, or physical, possibly with the aid of the USA, who would fancy stiffing the Chinese on their debts too.

This would suit the Euro elites, since the enemy then comes from the outside - they would much rather have the Chinese as enemies, rather than their own soverign countries and peoples.

A perfect opportunity to exploit the crisis for greater eu federalism.

+1

I feel its too little to late to save the Euro

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China isn't commited to supporting the euro, it's commited to future asset stripping critical infrastructure in europe.

The Eurozone will beg them to be buyer of last resort for european bonds, and china, with the full knowledge - even/especially at the time of purchase that the debts are unpayable, both principal and interest.

Then they can sit back, and at the point of maximum panic, demand the ports, the rail infrastucture, communications.

And not a shot fired... all done through zapping 1's and 0's through the financial system.

And if Europe refuses to hand over this stuff, then it's war - trade barriers, or physical, possibly with the aid of the USA, who would fancy stiffing the Chinese on their debts too.

This would suit the Euro elites, since the enemy then comes from the outside - they would much rather have the Chinese as enemies, rather than their own soverign countries and peoples.

A perfect opportunity to exploit the crisis for greater eu federalism.

Simply won't happen - unless the Chinese can enforce such demands with Military force they can go hang...

This is not about seizing control of the west.. this is blind panic and a scramble to avoid the inevitable collapse and the choas/war that will ensue.

Edited by Krackersdave

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Looking at it in a HPC way....could say it is bit like the vulture circling the bankrupt home owner who has no other choice but to allow their once highly prized assets be forcefully sold on the cheap..... :wacko:

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China isn't commited to supporting the euro, it's commited to future asset stripping critical infrastructure in europe.

The Eurozone will beg them to be buyer of last resort for european bonds, and china, with the full knowledge - even/especially at the time of purchase that the debts are unpayable, both principal and interest.

Then they can sit back, and at the point of maximum panic, demand the ports, the rail infrastucture, communications.

And not a shot fired... all done through zapping 1's and 0's through the financial system.

And if Europe refuses to hand over this stuff, then it's war - trade barriers, or physical, possibly with the aid of the USA, who would fancy stiffing the Chinese on their debts too.

This would suit the Euro elites, since the enemy then comes from the outside - they would much rather have the Chinese as enemies, rather than their own soverign countries and peoples.

A perfect opportunity to exploit the crisis for greater eu federalism.

God that sounds so depressing, especially on a lovely sunny day.

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Considering how denials have worked in the past this all but confirms the collapse of the Euro.

It's a right old mess out there, don't think many believed it would get this bad and I doubt many believe just how FUBAR it's going to get either.

Prepare for the worst, if it doesn't happen you've lost nothing...

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God that sounds so depressing, especially on a lovely sunny day.

Yes, just spent hours supping wine at the riverside - boats puttering up and down, kids running about in the sunshine, babes in summer dresses, pointless conversations, comfortable silences. And no insects.

No cares. But tomorrow is Monday.

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...it's the knock on effect to markets that's important.... :rolleyes:

So..... A Greek citizen who is fortunate enough to hear this news of Chinas supposed unwavering support of the Euro will just shrug his/her shoulders and say, "So in that case what does it matter if we default or not?! SO lets stop paying the sods...."

The question is whether Greek MPs will think similarly and vote accordingly this week - and finally signal the eventual default?

Edited by anonguest

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Simply won't happen - unless the Chinese can enforce such demands with Military force they can go hang...

This is not about seizing control of the west.. this is blind panic and a scramble to avoid the inevitable collapse and the choas/war that will ensue.

Agree - they've nowhere to run either

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Yes, just spent hours supping wine at the riverside - boats puttering up and down, kids running about in the sunshine, babes in summer dresses, pointless conversations, comfortable silences. And no insects.

...all made possible by the banks apparently.

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Likely China prefers a strong and stable europe as a bulwark for Russian dominance and increasing US influence. If europe were to play it's cards right it could become a sort of Greece and be a perennial bailout benefiter from China as China improved its own position - along with Germany's bail outs. Likely that's partly what the cheap Chinese tat is about.

Even Russia would likely benefit with all its resources.

From the point of view of the UK people the fly in the ointment is the ridiculously expensive house prices completely circumventing the cheap tat - and now the UK has out of control inflation and taxation to thieve what's remaining. That's the VIs fault.

Edited by billybong

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Considering how denials have worked in the past this all but confirms the collapse of the Euro.

It's contained.

WE12.jpg

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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