Friday, October 28, 2011

China Plays Down Expectations on Europe Bailout

Wall Street Journal
October 28, 2011

Chinese and European officials sought to play down expectations about when and how China may deploy its vast financial resources to help bail out indebted countries in Europe.

A Chinese Vice Finance Minister said China must first see the details of a new European bailout fund before making any commitments. "We of course must wait until its structure is extremely clear," Zhu Guangyao told a press briefing. "And moreover, this investment must be decided on after serious, technical discussions."

Klaus Regling, the chief executive of the European Financial Stability Facility, flew into Beijing on Friday on the first stop of a tour around Asia to drum up support for Europe. He told reporters he doesn't expect "any precise outcome" from his visit to China and said "it's too early to say what kind of amounts might be envisioned."


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