If you have a large pot of money, you should use it for your own interests. Zhou Xiaochaun, governor of the PBC, stated, " we would participate in resolving the euro debt crisis." They want to support the EU because exports to the Euro-zone exceed those to the US. They can ill afford to have a Euro-zone recession. They said they will hold EU sovereign debt through the IMF, EFSF, and ESM.
International finance statecraft is at work here and and will provide support for the Euro.
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