• Business model as medicine

    Revisiting your business model is a useful way to revive your business, says Ian Mann.

  • No sugar-coated pill

    The cost of uninformed medical consent runs into billions, says Mandi Smallhorne.

  • Greek tragedy

    Athens' relations with the EU was an accident waiting to happen, says Leopold Scholtz.

See More

China tells Europe to tackle crisis

Oct 21 2011 12:15 Reuters

Related Articles

Eurozone rescue plans shrouded in doubt

Bid to boost EU banks may fall short

Eurozone minefield

Berlin dampens hopes for EU crisis summit

China says it won’t abandon eurozone

Deal with your debt, China urges US, EU


Beijing - Chinese Premier Wen Jiabao urged Europe to prevent its debt crisis from spreading across the bloc and to stabilise its currency and financial markets, the Xinhua news agency reported on Friday.

Wen’s remarks come before a weekend crisis meeting by European leaders on how to increase a eurozone bailout fund that would tackle the bloc's debt problems. But deep divisions between France and Germany threaten to foil the meeting.

“The most urgent task is to take decisive measures to prevent the debt crisis from spreading further and avoid financial market turbulence, a recession and fluctuations in the euro,” Wen reportedly told European Council President Herman Van Rompuy in a telephone call.

With about a quarter of its $3.2 trillion reserves estimated to be invested in the euro, China has vested interests in seeing Europe avoid further market volatility.

Europe is also China’s biggest trading partner, and the region’s crisis has already taken a toll on Chinese exports, which grew at their slowest pace in seven months in September.

Wen’s latest comments sounded a bit more urgent than other recent remarks from Beijing, which has repeatedly voiced confidence that Europe can overcome its problems.

“I notice that EU leaders have shown strong political will,” Wen said.

“I hope that EU leaders could turn their political will into concrete and effective action to safeguard the stability of the euro and European markets to boost market confidence.”

During the phone call, Rompuy also told Wen that European officials had to postpone an annual summit with China to allow European leaders to attend a crisis meeting about the bloc's debt problems.

china  |  europe debt crisis



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're talking about:


Fin24 has teamed up with Ian Mann, ace business book reviewer and author of the best-selling book “Managing with Intent,” to host the second Best Business Books Breakfast of the year where Ian will show you how to lead and attract.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Facebook as a tool for small business is:

Previous results · Suggest a vote