China to EU: Yuan’t Getting Aid

The Chinese have taken a look at the EU’s plans to save the €uro and said “我不要 “. They have vetoed any financial aid unless they get guarantees for their investment. Sound familiar?

The €urozone should be worried about its isolation from the world’s emerging economic super-power. China’s biggest investment market in Europe is the UK and 62 Chinese companies have chosen to list on London’s stock exchanges, ignoring Paris and Frankfurt. The Chinese sovereign wealth fund is expected to invest tens of billions in the UK’s now green-lighted infrastructure projects.  Hardly surprising given that the UK reciprocates by investing more in China than any other EU nation. Would you yuan’t to risk investing in the €urozone after the ratings agencies put most of the zone’s banks on credit watch? Having a currency crisis is fundamentally isolating…




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Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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