Just in case there are still any hopes that the FT, or any other credible media outlet, may come up with a story, like it used to do almost daily back in 2011 and early 2012, that China, whose stock market continues to plumb 3 year lows, has some capacity to inject cash (that it doesn't have) into a broke continent (which would never repay said cash even if it existed), here comes none other than China's Sovereign Wealth Fund to make sure there is never again a rumor that China will bail out Europe. From Reuters: "China would be interested in buying into a Eurobond backed by core euro zone countries and considers investment in bonds issued by heavily indebted European countries unrealistic, a senior official with China's $480 billion sovereign wealth fund said. Jin Liqun, chairman of the supervisory board of the China Investment
Corporation (CIC), said until fundamental problems of fiscal, social and
monetary policies in euro zone countries burdened by debt are solved,
there could be no investment." They never will be so scratch that possibility out. Now we can limit the universe of idiotic Europe is saved (it isn't - it is only a matter of time now before the ship sinks) rumors to at least one less.
And some more:
"It's not realistic to expect any Chinese investor, CIC included, to buy the bonds, which are not safe," Jin, a former vice finance minister of China, told Reuters on the sidelines of VTB Capital investment conference in Moscow on Tuesday.
"If the euro zone would issue a Eurobond backed by all of the (core) countries - it is more attractive to international investors."
It is, however, realistic to expect entities which are also "unsafe" to dodecatuple down on said "unsafe" bond purchases. Such as all Italian and Spanish banks, as well as all central banks, which have now become toxic bondohazard repositories of only resort.
That said, thank you China for your honesty.