THE HEAD of China’s sovereign wealth fund, Jin Liqun, signalled yesterday that he is reluctant to deploy Beijing’s firepower to help stem the Eurozone crisis until the region’s leaders present a coherent rescue plan.
“We in China are concerned about the unravelling of the situation in the... region,” he said.
“China cannot [buy euro debt] without due diligence. China cannot be expected to buy high risk Eurozone [bonds] without a clear picture of debt workout programmes.”
Markets had rallied in previous instances when China indicated that it was prepared to deploy some of its $3.2 trillion wealth fund into propping up the Eurozone.
Meanwhile, Greece’s international creditors found themselves barred from entering government buildings by striking civil servants yesterday.
Representatives of the troika – the ECB, the European Commission and the IMF – arriving back in Greece to resume their audit of government finances had to find another route into the building.