The latest European Union bond sale to help finance aid for Ireland attracted a portion of Asian investors about five times larger than the average over the last two years, according to Bloomberg. The European Commission said on Thursday that Asian buyers accounted for 21.5% of the €5 billion sale of five-year securities, which represents a continuation of Asian support of the region as sovereign debt woes threaten economic stability.
Meanwhile, Chinese Vice Premier Li Keqiang pledged his country’s support for the region in the form of the purchase of €6 billion worth of Spain’s public debt, which is as much of its Greek and Portuguese holdings combined, adds Reuters. The Spanish government did not comment on the report from El Pais, but the pledge could still serve as a reassurance to economists that are concerned that Spain will be forced to turn to international aid to meet rising debt costs.
Click here to read the story on the latest bond sale from Bloomberg News.
Click here for coverage of China’s pledge of support from Reuters.