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China hails new EU deal over debt
By Ding Yining |
December 13, 2011, Tuesday
|
Print Edition
Print Edition
CHINA welcomes the new fiscal agreement approved by the European Union summit and will support the region's efforts to tackle its debt issues, Foreign Ministry spokesman Liu Weimin said yesterday.
"China welcomes Europe's new pact and has confidence in the eurozone and its capability to resolve the crisis," Liu told a regular press conference in Beijing.
"China hopes the new measures will lift market confidence and will be conducive to stabilizing markets and will boost economy and employment," Liu added.
A stable economic situation in the eurozone will contribute to global economic recovery, he commented.
Under the new pact agreed by EU leaders in Brussels last week, all 17 countries that use the euro agreed to allow a central European authority to oversee their future budgets and impose tighter controls on spending.
The new pact also calls for the launch of a permanent bailout fund for euro nations in 2012 - a year ahead of schedule - and an additional 200 billion euros (US$267 billion) to the International Monetary Fund for a separate emergency fund for countries in crisis.
China, along with other countries, will support the region's efforts to tackle the crisis and ensure the stability of global financial markets.
"China welcomes Europe's new pact and has confidence in the eurozone and its capability to resolve the crisis," Liu told a regular press conference in Beijing.
"China hopes the new measures will lift market confidence and will be conducive to stabilizing markets and will boost economy and employment," Liu added.
A stable economic situation in the eurozone will contribute to global economic recovery, he commented.
Under the new pact agreed by EU leaders in Brussels last week, all 17 countries that use the euro agreed to allow a central European authority to oversee their future budgets and impose tighter controls on spending.
The new pact also calls for the launch of a permanent bailout fund for euro nations in 2012 - a year ahead of schedule - and an additional 200 billion euros (US$267 billion) to the International Monetary Fund for a separate emergency fund for countries in crisis.
China, along with other countries, will support the region's efforts to tackle the crisis and ensure the stability of global financial markets.
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