"There will come a moment - who knows when, but China plays a long game - when some ghastly, Europe-threatening crisis arises (Iran? Turkey? or another financial meltdown?) and Europe is confronted squarely with its own flabby uselessness. Couldn't face down Libya unaided: & certainly can't face this putative future challenge, without contemplating some seriously bloody bayonet-work (and/or precipitous standard-of-living reduction). No stomach for that - and the US has decided it's had enough.
And then ... and then China or India has a quiet word in Brussels. Leave it to us, they say: and all we want in return is ..."
C@W 12 June 2011
"The chairman of China Investment Corporation, which was created to invest a portion of Beijing's $3.2 trillion in foreign reserves, met with Italy's finance minister last week in Rome, The Wall Street Journal and the Financial Times reported, citing unnamed sources. Italian Economy Minister Tremonti confirmed on Tuesday that he met officials from a Chinese delegation last week but declined to comment on the substance of the meeting. The Financial Times reported that Italy had asked Beijing to buy "significant" quantities of Italian debt to help calm market turmoil caused by worries over the sustainability of its €1.9 trillion debt load."
DTel 13 Sep 2011
And ain't Silvio just the man to do a deal ?