China Considering "Deeper Invovelment" in Euro's Rescue Efforts Ahead of China-EUO leaders' Meeting


China is considering more participation in the efforts to solve the euro debt crisis, one of the vice foreign ministers said Thursday.

“China supports a stable euro… and supports IMF and other international financial agencies in playing a significant role to help resolve the euro debt crisis,” said Song Tao, as quoted in a statement on the ministry’s website.

China is “also considering deeper involvement in the eurozone’s bailout via the European Financial Stability Facility and European Stability Mechanism,” Song said.

His comments were made during an interview with Hong Kong Phoenix Satellite on the upcoming China-EUO leaders’ meeting in Beijing on Feb. 14.

China and the European Union are “indispensable partners” and he relationship is at a “new starting point”, Song said.

China may “move shortly” to help Europe unwound its crisis by providing an investment of as much as 100 billion euros, Bloomberg said, quoting a Chinese academic.

The money would probably go to the European Financial Stability Facility, said Yuan Guangming, an economist at the Chinese Academy of Social Sciences, adding that the forecasts are his own and don’t necessarily represent government plans.

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