February 14, 2012
China is willing to get “more deeply” involved in resolving Europe’s debt crisis, and the continent must send a clearer message to show how it’s working to strengthen its finances, Premier Wen Jiabao said today.
“China’s willingness to support Europe to cope with sovereign debt problems is sincere and firm,” Wen said at a joint press conference today in Beijing with European Union President Herman Van Rompuy. “China is ready to get more deeply involved in participating in solving the European debt issue.”
Van Rompuy said he welcomed the interest China has shown in investing in European sovereign bonds and the European Financial Stability Facility. Wen reiterated remarks he made Feb. 2 that China was considering measures to help stabilize the European monetary union through the EFSF and European Stability Mechanism.
Wen’s comments come after Greece’s parliament passed austerity measures needed to receive a second aid package. China, which has been wooed by European leaders to help fund the temporary EFSF and its permanent successor, the ESM, is pushing for Europe to undertake further structural reforms.
“We expect those highly indebted countries to strengthen fiscal consolidation, cut deficits and reduce debt risks in light of their national conditions,” Wen said. “We hope the EU will soon reach internal consensus, make the political decision and send to the international community a clearer and a stronger message of policy responses.”
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