Thursday, March 25, 2010

China: Greece is Just the Tip of the Iceberg

Zhu Min, Vice President of People's Bank of China (Cina's CB), today expressed concern about the fiscal crisis of the euro area, criticizing the European currency for fear that the problem could spread beyond Greece .

"Greece is only the tip of the iceberg,"

"I do not think that Greece will break because it is still relatively small, but we do not see decisive action to tell the market 'we can resolve this, we can finish this', so the market is very volatile,"

"The main concern today is obviously Spain and Italy."

With news from Agencia Estado

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