EU main economies announce plans to join China-led development bank, despite US warning

Wednesday, March 18th 2015 - 08:20 UTC

Full article 10 comments

France, Germany and Italy on Tuesday announced plans to join the Chinese-led development bank AIIB, drawing concern in Washington which views the institution with skepticism. The three European countries want ”to become founding members of the Asian Infrastructure Investment Bank (AIIB)”, they said in a statement. Read full article

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Condorito
Just like I said on the previous article “the right long term strategy for a European nation”

http://en.mercopress.com/2015/03/16/uk-caught-on-the-wrong-side-in-a-us-beijing-dispute-over-chinese-development-bank#comments
Mar 18th, 2015 - 10:07 am - Link - Report abuse 0
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Bisley
There should be no such thing as a “development bank”, including the IMF and World Bank. These institutions are nothing but a tool of cronyism and corruption (at public expense) by the governments involved; they don't “develop” anything, except profit and political support for their favorites.
Mar 18th, 2015 - 01:12 pm - Link - Report abuse 0
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Outlawcatcher
@3...I agree. These are nothing but profiteering organisations for their banker owners. Apart from that the US does not want EU countries to financially connect with the Chinese as it will provide a competitor to the IMF and World Bank, which are US led. It is like democracy, anything that challenges the US viewpoint will get a battering. The fact that they imply that the Chinese will not adhere to 'high standards' is also laughable. The IMF and World Banks are not the gold standard in banking by a long way and they have been used to subjugate a lot of developing countries to poverty with their Structural Adjustment Programmes (SAP's). Love the US but your viewpoint of democracy is tainted with heavy handed financial imperialism...as is ours in the UK.
Mar 18th, 2015 - 01:44 pm - Link - Report abuse 0
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Voice
The worm has turned...
Interesting to see a bank not controlled by the US....
Mar 18th, 2015 - 04:28 pm - Link - Report abuse 0
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Outlawcatcher
...oops, that should be @2 not 3!
Mar 18th, 2015 - 06:07 pm - Link - Report abuse 0
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Briton
One should never predict the obvious
but it seems more and more nations are abandoning the old rust bucket for a new one,

one hopes that the new shiny yellow bucket is as strong as the makers predict and does not leak,

just saying like...
Mar 18th, 2015 - 08:28 pm - Link - Report abuse 0
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ChrisR
The thought of Germany, Italy and France attempting to teach the Chin anything makes me laugh. What next, Spain on how to leach money from Britain while lying and bad mouthing them at every turn?

The Chin will really be impressed with these idiots: they will be rubbing their hands with glee at the prospect of another bunch to hoodwink without them even knowing it is happening.
Mar 18th, 2015 - 09:00 pm - Link - Report abuse 0
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Briton
Very true.
Mar 18th, 2015 - 09:09 pm - Link - Report abuse 0
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brasherboot
Make no mistake. This is a VERY strong signal of a changing world order.
Mar 19th, 2015 - 03:33 am - Link - Report abuse 0
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Briton
And most of us on here may well still be around to see the outcome,
perhaps 10-20 years...
Mar 19th, 2015 - 11:05 am - Link - Report abuse 0
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