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Purveyor

(29,876 posts) Sat Mar 21, 2015, 03:27 PM Mar 2015

Switzerland, Luxembourg Apply For China-Led Infrastructure Bank

Despite negative noises from the US, Switzerland and Luxembourg have become the latest European nations to apply to join the Beijing-led Asian Infrastructure Investment Bank (AIIB), the Chinese Finance Ministry announced.

Earlier in March, the EU’s leading economies – the UK, France and Germany –announced plans to participate in the new international financial institution.

China's Finance Ministry released a statement on Friday saying it welcomes the Swiss decision to apply.

Switzerland is to become the bank’s founding member later this month if other nation members involved approve its candidacy.

http://rt.com/business/242897-switzerland-luxembourg-aiib-china/

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Switzerland, Luxembourg Apply For China-Led Infrastructure Bank (Original Post) Purveyor Mar 2015 OP

Am I the only person who see this statement as a bit hysterical? - djean111 Mar 2015 #1

djean111

(14,255 posts)

1. Am I the only person who see this statement as a bit hysterical? -

Reply to Purveyor (Original post)

Sat Mar 21, 2015, 04:22 PM

Mar 2015

US Treasury Secretary, Jacob Lew, stressed Washington has doubts if the China-led bank will be able to “adhere to the kind of high standards that the international financial institutions have developed.”

"Will it protect the rights of workers, the environment, will it deal with corruption issues appropriately?" Lew asked.

Doesn't the IMF deal out privatization and austerity?

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