MOU seeks Irish investment options
Source: Agencies |
March 28, 2012, Wednesday
|
Print Edition
Print Edition
A SUBSIDIARY of China's sovereign wealth fund yesterday signed a memorandum of understanding with Dublin's debt agency to explore investment opportunities in Ireland, but gave little detail on what it might be interested in.
Europe has been courting countries with big foreign exchange reserves, such as China, to help prop up some of its indebted governments that have struggled to issue bonds as the eurozone's debt crisis rumbles on.
Ireland, nearly halfway through a three-year EU/IMF bailout, needs to return to bond markets in the next 12 months if it is to build up enough funds to exit the program but faces of a number of hurdles if it is to get there.
Ireland's National Treasury Management said the MOU built on existing dialogue between it and China Investment Corp International and would help seek investment options.
Europe has been courting countries with big foreign exchange reserves, such as China, to help prop up some of its indebted governments that have struggled to issue bonds as the eurozone's debt crisis rumbles on.
Ireland, nearly halfway through a three-year EU/IMF bailout, needs to return to bond markets in the next 12 months if it is to build up enough funds to exit the program but faces of a number of hurdles if it is to get there.
Ireland's National Treasury Management said the MOU built on existing dialogue between it and China Investment Corp International and would help seek investment options.
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