From FT Alphaville:
OK, this is weird.In "Line of Demarcation*: Portugal Reportedly Prefers Loans from Brazil over IMF, EU" we saw that another Portuguese colony was also interested.
RTRS-CHINA C.BANK SAYS NO COMMENT ON REPORTS THAT IT’S READY TO BUY PORTUGAL DEBTAnd that little piece of strategic ambiguity follows a Portuguese business paper’s reporting that the Chinese will buy €4-5bn of government bonds, just as concerns over Portugul heading to the IMF and EFSF come under the spotlight again....
...China’s State Administration of Foreign Exchange moves in mysterious ways in managing the balance of eurozone assets going into Chinese FX reserves. Buying up a full half of Portugal’s 2011 bond refinancing needs looks like a pretty vast open-ended commitment to make — considering the bargain that was struck the last time China overtly stepped into peripheral debt markets....MORE