Sunday, February 05, 2012

China and Germany plan joint control of Europe

The Irish Times has the story, unusually timelined in the middle of a Sunday morning, linked here. It arrives at a time when the world greets with horror the veto by Russia and China at the UN of a resolution designed to prevent President Assad of Syria from continuing the mass murder of his own citizens. Such is where the EU seeks economic salvation. Some quotes:

This time, Mr Wen urged skeptical Chinese citizens to understand that supporting Europe was in their own benefit
"Now Europe is facing a debt crisis and we must consider relations with Europe strategically to protect our national interests," he said while visiting the export-dependent southern Chinese province of Guangdong.
China, with its $3.2 trillion worth of foreign exchange reserves, is often seen as a potential source for funds needed to bail out some European governments.
The Chinese premier's latest comments on the euro crisis again did not include any specific commitments to European economies. But he stressed the stake that China holds in defusing the euro crisis.
"On the one hand, our biggest export market is Europe," said Mr Wen. "On the other hand, Europe is our biggest source for importing technology. From this perspective, helping to stabilize European markets in fact amounts to helping ourselves. We must make all quarters of society understand this point."

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