This article was last updated on April 16, 2022
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Two of the world’s strongest economic powers i.e. China & Japan have told Europe that their financial help for the economic troubles in EU will have its own limits and that a blank cheque sort of help should not be expected from the worlds second and third biggest economic power.
Jun Azumi the Japanese Finance minister said that Japan can buy European Financial Stability Facility bonds if required but that’s as far as they can go to help European authorities.
Deputy Governor of Chinese central bank Yi Gang said “At the margin we can do quite a bit to help, the real solution of the European sovereign debt crisis has to be done by Europeans themselves.”
Jun Azumi said “euro-area nations had said that this is a euro-area problem, and that the euro-area nations should be the ones to solve the problem, we don’t reject that view, we respect it,”
He further added “While additional aid is “a possibility” if Europe succeeds in creating a system for dealing with crises, “it’s not like we’re going to provide a blank check,”
These remarks were in reply to the expectations of European investors who called for China and Japan to help stabilize the European Market.
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