No need to worry, China has offered to purchase Greek bonds in an effort to convey they are a great friend of the Greek shipping empire. Reuters writes, “China will undertake great efforts to support the Euro zone countries and Greece to overcome the crisis”. Great, im all for helping solve our worlds economic issues though i really doubt China’s funny money is really the answer to the problem. That being said, i can assure you we are going to see some futures shenanigans Sunday evening.
Remember the bullshit never stops, the world powers closely watch the US stock market levels and sentiment. They will do anything to bolster sentiment. Do you really think the timing of this announcement is random? Nope. “Move along, nothing to see here”.
(Reuters writes) Greece needs foreign investment to help it fulfill the terms of a 110 billion euro (US$150 billion) bailout. This rescued it from bankruptcy in May but also imposed strict austerity measures, deepening its recesion.Greece, which has been raising only short-term loans in the debt market, has said it wants to return to markets some time next year to sell longer-term debt, although the EU/IMF package llows it to wait until 2012.
“I am convinced that with my visit to Greece our bilateral relations and cooperation in all spheres will be further developed,” Wen told Greek Prime Minister George Papandreou earlier in the day.
Greece and China pledged to stimulate investment in a memorandum of understanding and private companies signed a dozen deals in areas like shipping, construction and tourism.