CIC: problem is Europe’s sloth

EUROPE’s problems are down to its work-shy population, according to the head of China’s sovereign wealth fund.

Jin Liqun, chairman of the China Investment Corporation, which manages about $300bn in assets, said: “The root cause of trouble is the overburdened welfare system, built up since the second World War in Europe -- the sloth inducing, indolence inducing labour laws.”

“People need to work a bit harder, they need to work a bit longer, and they should be more innovative,” he told Channel 4 News.