How the US, UK, Japan and China can provide a backdoor bailout of the eurozone..

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Just a quibble:

The RMB is not convertible and it will make little sense to print massive amounts of RMB for a foreign problem.

China is gripped by demand-driven inflation: just witness the massive pay raises made in order to stem strikes and the spate of suicides, and the out of control food and property prices. Inflation has brought down many dynasties in the past and the existing one doesn't want to follow suit. Again, letting the RMB to appreciate could help resolve this, but they still are not budging.

Also, I'm afraid of the moral hazard this will create. Japan is in a potentially dire situation with its massive debt and terrible demographic future. Will Japan demand a similar bailout if it reaches a Greek-style crisis?

[2952-0-0]

Not when its 200%+ Debt/GDP ratio and its shrinking pool of savings cause chickens to come to roost.