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Chinese authorities confirm support for the euro

Chinese authorities have this weekend confirmed that their ongoing support for the euro and European government bonds is as strong as ever. It seems as though the Chinese authorities are determined to assist with creating a more stable Europe which will in due course assist the overall worldwide economy and Chinese exports in particular.

Despite the fact that the Chinese authorities have already ploughed millions of pounds into the currency markets and the European bond markets, and recently seen these investments fall in value, it seems that the EU can still count on the support of the Chinese government. Indeed the authorities recently visited Greece and confirmed that as and when the Greek authorities are ready to move back into the bond market they will be amongst their main supporters.

It is the Chinese economy and the US economy which will literally dictate the direction of the worldwide economy as well as the Eurozone. It is encouraging to see these superpowers coming together and effectively "singing from the same hymn book" at a time when a collective approach to the worldwide economic problem is required. This is a massive change in the China of many years ago which was secretive, often unhelpful and something of a mystery to many around the world.

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