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Saudis shuns European debt

Saudi Arabia does not intend to buy European sovereign debt, central bank chief Muhammad al-Jasser said in published remarks yesterday. “There are no plans to buy European sovereign debt,” Jasser was quoted as saying by Saudi al-Watan daily on the sidelines of the G20 summit in Toronto. Leaders meeting in Toronto this weekend are seeking ways to cut public debt without undermining a fragile global economic recovery.