O'Neill: BRIC investors poised to snap up euro debt

Goldman Sachs Asset Management chairman Jim O'Neill said BRIC investors are on tenterhooks waiting for this week's EU summit, as progress on solving the debt crisis will boost appetite for eurozone debt.

O'Neill told Reuters this week's deal will be pivotal in boosting Asian appetite for European debt. "They look at it at the same as other investors. Yields are attractive but if the European leaders and ECB are not on board then why should they be? If we see a deal next week then I would imagine BRIC investors will buy," he added. In October it emerged the head of the eurozone's bailout fund was trying to persuade China to invest in a scheme to help rescue member countries. It was thought China might pay around €70bn into the fund. Meanwhile O'Neill criticised Standard & Poor's for...