Italy 'did not ask China to buy bonds' | Bangkok Post: business

Italy admitted meeting with the head of the biggest Chinese sovereign wealth fund CIC for talks, but denied on Tuesday asking Beijing to help reduce record borrowing prices by buying Italian bonds.

Italy's Finance Minister Giulio Tremonti (pictured) met with the head of China's largest sovereign wealth fund CIC last week, but Rome did not ask Beijing to help reduce record borrowing prices by buying Italian bonds, junior finance minister Antonio Gentile said.

Bond auctions over the last few days have been overshadowed a marked lack of confidence in Italian debt, which has been supported in recent weeks by crisis purchases on the secondary market by the European Central Bank.