Are the BRICS considering buying the euro debt?


BRICS countries – Brazil, Russia, India, China and South Africa – the fastest-developing emerging economies, are meeting in Washington to talk over the ways of helping out the eurozone debt crisis, which has still no actual solution and no end in sight. Recently, South Africa has suggested that BRICS countries buy euro bonds to help out Europe. Maksim Shein, an analyst at Brokkreditservis in Moscow, thinks it’s the only and most obvious idea they can put forward at the moment and the option that European countries themselves hope for. However, the consequences of buying European debt are not very clear…

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