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[30 Aug 2012 | No Comment | ]

German Chancellor Angela Merkel offered a ray of hope to Greece, stressing that she wanted the debt-burdened country to stay in the eurozone and pledging German help after crisis talks with the Greek prime minister.
“I want to say very clearly … that Greece is part of the eurozone and I want Greece to remain part of the eurozone. This guides all our discussions,” Merkel said at a joint news conference with Antonis Samaras
“I am deeply convinced that the new Greek government, under the leadership of Prime Minister Samaras, is doing …

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[19 Feb 2012 | No Comment | ]

China will continue to invest in euro zone government debt, the country’s central bank governor said today, while calling on Europeans to produce more attractive investment products for China.
Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia or India were waiting for the right time to help the bloc, after a European Union state visit was once again met with encouraging words but no concrete public commitments on fresh funding from China.
But he also suggested Europe needed to work harder to entice Beijing to part with its …

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[20 Dec 2011 | No Comment | ]

British Euro-skeptics and many Conservatives were triumphant that Prime Minister David Cameron cast his veto in defense of the City of London at the European summit recently; to British liberals, it was a night of shame that the United Kingdom was so easily isolated; to Europe generally it was a chance to move on.
It is said that Germany rules, France reigns and Britain is lost in a fog in La Manche (the English Channel). In the U.S. and other markets, there is skepticism mixed with cynicism whether the European fiscal …

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[18 Dec 2011 | No Comment | ]

Russia has dangled a $US20 billion ($20.24 billion) offer of IMF-run aid for the euro zone, as President Dmitry Medvedev enters his last summit with EU leaders split on energy, Syria and Iran.
Russia said it is willing to pump up cash into an emergency euro zone rescue, as the two sides cheweed over European demands for clean elections to replace Medvedev in March.
As Prime Minister Vladimir Putin said back in Russia he was “pleased” by Russia’s outburst of protests, Medvedev adviser Arkady Dvorkovich said Moscow was ready to contribute as …

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[7 Dec 2011 | No Comment | ]

He sends her wine and gives her fine French cheese. She sends him teddy bears.
At last, after years of antipathy verging on outright hostility, the on-off relationship of Europe’s most unlikely couple looks set to be consummated this week.
Angela Merkel, 57, and Nicolas Sarkozy, 56, are thrashing out the final pre-nuptial arrangements for the political marriage of convenience that will save the euro and possibly Europe. The two leaders meet again today, in Paris, to see whether they can agree final terms for a closer union that could save the …

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[8 Nov 2011 | No Comment | ]

Japan bought 10% of 3 billion euros ($4.13 billion) in bonds issued on Monday by the eurozone’s rescue fund, a government official said on Tuesday, less than its previous investments.
Japan’s purchase came to 300 million euros, the official at the finance ministry’s international affairs bureau said.
Tokyo had bought 20% of previous bond sales issued by the European Financial Stability Facility (EFSF), the rescue fund.
“We took into account our euro liquidity (in Japan’s special account of foreign currencies), terms on issuance and the market environment,” the official said of the fall …

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[29 Oct 2011 | No Comment | ]

China is ready to pump money into the euro zone’s bail-out fund if European leaders can convince it the investment is safe, senior government advisers told the Financial Times on Friday.
And another source told the paper the cash-injection could possibly top US$100 billion (S$124 billion).
China needs assurances that other countries would contribute to the fund, which will be used to buy debt issued by countries in financial difficulties, the business daily reported.
It also needs to be sure that European leaders will refrain from criticising China’s foreign exchange policy, the FT …

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[27 Oct 2011 | No Comment | ]

The 17-nation eurozone is set to shore up its bailout fund to contain the debt turmoil that threatens to engulf more countries across Europe, and German MPs say the plan could boost the fund’s lending capacity to more than one trillion euro.
A document obtained by The Associated Press shows the currency zone wants to boost the 440 billion euro bailout fund by offering sovereign bond buyers an insurance against possible losses and by attracting capital from private investors and sovereign wealth funds.
Eurozone governments hope that the enhanced European Financial Stability …

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[1 Feb 2011 | No Comment | ]

SPAIN, Portugal and Greece – three of the euro zone’s most financially shaky members – in recent months have touted a lifeline thrown to them by China: a promise to buy these countries’ embattled bonds.
The pledges from the government in Beijing temporarily took some pressure off European debt markets, but China has been quiet on how much money it will actually invest. What is clear is that China has an immense interest in helping the euro zone, its biggest trading partner, out of its current woes.
On Wednesday, Spain signed more …