TOKYO -- The head of the organization charged with safeguarding financial stability in the eurozone said he does not rule out issuing Chinese yuan-denominated bonds to fund the rescue of European nations and institutions.
"[Issuing European Stability Mechanism bonds in yuan] is possible," Klaus Regling, managing director of the ESM, said in a recent interview with the Nikkei Asian Review. He said the institution was preparing to issue dollar-denominated bonds in the fourth quarter of this year -- the ESM's first non-euro bond issuance -- but added that other currencies remained an option.
