China extends help to tackle euro crisis

[WestVirginiaRebel]

Financial Times:

China has promised to take further “concerted action” to support European financial stabilisation, including continuing to buy the bonds of countries at the centre of the sovereign debt crisis, according to senior European officials.

The officials, who declined to be named, said Wang Qishan, a Chinese vice-premier, had given assurances that China would step up support for European stabilisation efforts “if necessary”. Mr Wang made the pledge during the third annual China-EU High Level Economic and Trade Dialogue, held in Beijing on Tuesday.

In comments reported by state media, Mr Wang said China supported measures taken by the EU and the International Monetary Fund to stabilise the eurozone, but gave little detail of what form such backing would take.

Beijing has emerged as one of the more enthusiastic backers of distressed European sovereign debt in recent months.
________

Gee, I wonder why....

This is starting to look more and more prophetic: