In These New Times

A new paradigm for a post-imperial world

BRICS may help Europe out

Posted by seumasach on September 14, 2011

Business Live

13th September, 2011
The BRICS group of emerging markets may ramp up holdings of euro-denominated bonds in an effort to help European countries stuck in a sovereign debt crisis, Brazilian newspaper Valor Economico reported on Tuesday, citing an unnamed official.

There was still “no firm dialogue” about that possibility, the newspaper said, noting that purchases may be limited to debt from the more financially solid European nations.

A decision could be taken later this month when finance ministers and central bank presidents from Brazil, Russia, India, China and SA meet in Washington, the newspaper added.

Brazil’s finance minister, Guido Mantega, said the BRICS nations would discuss the eurozone problems next week.

“We’re going to meet next week in Washington and we’re going to talk about what to do to help the European Union get out of this situation,” Mantega was quoted as saying.

However, central banks in Brazil and SA declined to comment on the story, the newspaper said.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: