Treasury Today Country Profiles in association with Citi

Eurozone crisis causes panda-monium!

Forget Greece and Italy. The Eurozone crisis has claimed another casualty with a high-profile loan of two Chinese pandas put on ice until further consideration.

The loan would have seen the two pandas destined for the Beauval zoo in central France. But given the cultural importance of Pandas in China – a land where they symbolise peace and goodwill – such a loan required agreement from the highest levels in the Chinese government.

Negotiations “were very advanced,” a French minister was reported to have said. “Unfortunately because of the Greek crisis, the sovereign debt crisis, the emergency G20 summit, there was no time for the final discussion between President Hu Jintao and President Sarkozy,” she added. Conditions of the loan are hoped to be finalised in the coming weeks, presuming of course the Eurozone crisis does not interfere again.