Darling: China Won’t Save Europe From Crisis
To view this content you need Flash and Javascript enabled in your browser.
Please download Flash from the Adobe download website.
10:39pm UK, Wednesday November 02, 2011
Global interest in whether China will help bolster the eurozone’s bailout fund has been growing since the rescue package was concurred last week.
But when asked on Jeff Randall Live whether he thought China will intervene, Mr Darling said: “No, they will play for long term. They’re going to sit back and they are just going to watch.”
He stated the Chinese “aren’t indifferent or daft” when it comes to helping the region.
“After last week’s deal, someone went to China and the Chinese had a look and it and then said: ‘No, just come back when you have sorted it out.’
“That’s when alarm bells ought to be ringing,” he added.
China’s economy grew by over 9% in the third quarter from a year earlier
Mr Darling’s comments have come as France’s president Nicolas Sarkozy holds a working dinner with his Chinese counterpart Hu JinTao.
The European Financial Stability Facility currently stands at 440bn euros but Europe’s leaders hope to boost it to 1trn euros.
China’s GDP grew by over 9% in the third quarter from a year earlier – significantly more than Europe’s economies – and the country has the world’s largest foreign currency reserves.
The pressure is on for politicians at the G20 meeting to convince Hu JinTao that his financial firepower would be well-placed in supporting Europe.
Foreign ministry spokesman, Hong Lei, stated his country believes Europe can “resolve its current difficulties”.
“China consistently places importance on the euro and the eurozone’s development and has always believed the EU has the capability to resolve current difficulties,” he said.
“China will always be an important investor in the European financial market.”
The European debt crisis will dominate the agenda at the G20 meeting in Cannes.
But a surprise Greek referendum on the region’s bailout, announced by prime minister George Papandreou on Monday, has led to market fluctuations across the world.
source : news.sky.com
Related News:
- Wuhan Will Be Lenovo’s New Industrial Base In China
- Ufida Yoyos With New Tech Brand And Logo In China, Again
- Gome’s Gross Profit Up 16% In China
- Delicious Enters China With New Localized Social Media Site
- Nokia Siemens Networks Cuts 350 Employees In China
- Microsoft Formally Launches Windows Phone 7.5 In Mainland China
- Dell China Divulges New Personnel Changes
- Renren.com Announces Social Travel Website In China
- iPad 2 Price Drops To CNY2,988 In China
- China Telecom Will Formally Launch iPhone 4S Next Week
Details :
Submited at Thursday, November 3rd, 2011 at 12:00 am on Business by ethan
Comment RSS 2.0 - leave a comment - trackback