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Sovereign Wealth Funds Briefing - Categorized | Financials, People

Lee says Singapore in ‘no position to rescue’ Europe

Posted on 15 September 2011

Singapore isn’t in a position to help European nations facing sovereign default risks through bond purchases, and the European Union faces significant internal tensions that could result in its break-up, the city-state’s former Prime Minister Lee Kuan Yew, who is senior adviser to sovereign wealth fund Government of Singapore Investment Corp. said.
“Singapore’s (gross domestic product) is one-60th of the European GDP, and we’re in no position to rescue the Europeans by buying their bonds,” Lee said………………………………………Full Article: Source


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