Italy, the Eurozone’s third largest economy, has asked China to buy large amounts of its debt, according to reports this week — iShares MSCI Italy (NYSEArca: EWI) rose 2.2% on Wednesday. Meanwhile, the lower house of Parliament in Italy is expected to approve the revised austerity plan, a mix of tax hikes and spending cuts intended to balance the budget by 2013, reports James Mackenzie for Reuters.
Spain, Greece and Portugal have all turned to China in times of distress since the 2007 global credit crisis.
iShares MSCI Germany
Tisha Guerrero contributed to this article.