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Europe bailout fund chief says yuan bonds a possibility

By REUTERS

OCTOBER 29, 2011 06:52

BEIJING - The head of Europe's rescue fund said the facility could provide investors some protection against initial losses and that it may issue bonds in yuan depending on whether Beijing wants it.

Klaus Regling, chief executive of the European Financial Stability Facility, said the EFSF could offer to take the first 20 percent of losses in a new investment vehicle that is aimed at drawing money from emerging countries such as China.

Regling, who is in China to persuade Beijing to invest in the fund and help Europe survive its debt crisis, said the fund has the authority to sell bonds in any currency, and that it could issue bonds in yuan if China approves of the arrangement. But he noted this could be difficult right now.

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