Today's Elites

Sunday, January 29, 2012

European Financial Oligarchs Seek Great Wall of Money at Great Wall of China?

"China Closer To Bailing Out Europe" reads a headline from Forbes toady. The article goes on:

"China is closer to bailout out Europe, China Daily reported from Davos on Switzerland.

The leaders of Denmark and Finland said China is “willing” to contribute to International Monetary Fund efforts to bail out debt-ridden southern Europe, within limits. Speaking at the World Economic Forum annual meeting in Davos, Helle Thorning-Schmidt, prime minister of Denmark, and Finnish Prime Minister Jyrki Tapani Katainen stressed the need for China and the European Union to cooperate on some form of bailout from the IMF.

Both sides are “in the same boat”, according to Katainen. “China will suffer from the worsening economic situation in Europe, and vice versa, so it would be good for China to use part of its foreign reserves surplus through the IMF to finance countries in trouble. This would not be free. It would always be conditional,” he said.

Song Zhe, who until about a month ago was China’s ambassador to the EU, said: “China will never be absent when it comes to global efforts to rescue debt-ridden European countries."

So it would seem that these delusional financier chaps seems to think they will somehow get their aforementioned wall of money by begging at the Great Wall of China. They have just now managed to provide China (and Russia) a gift of exclusive Iranian oil. One supposes they will use a similar tactic they were ever so successful with Iran, i.e. "Give up or we will shoot ourselves in the head!"

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