Fund Chief Visits China To Seek Financing
Source: Bloomberg News |
October 27, 2011, Thursday
|
Print Edition
Print Edition
THE head of the euro area's rescue fund will travel to China this week as European leaders court foreign investors to help stem the region's debt crisis.
The visit to Beijing tomorrow by Klaus Regling, chief executive officer of the 440-billion-euro (US$613 billion) European Financial Stability Facility, comes amid a eurozone push to boost the firepower of the EFSF. One option is for the facility to fund a special investment vehicle that would seek outside money.
The EFSF, established last year, has since also gained the authority to buy sovereign bonds on the secondary and primary markets, offer credit lines to governments and recapitalize banks as the Greece-triggered debt troubles have spread.
China's foreign ministry yesterday said the country hopes the European Union takes effective measures to restore market confidence in tackling its debt crisis.
The visit to Beijing tomorrow by Klaus Regling, chief executive officer of the 440-billion-euro (US$613 billion) European Financial Stability Facility, comes amid a eurozone push to boost the firepower of the EFSF. One option is for the facility to fund a special investment vehicle that would seek outside money.
The EFSF, established last year, has since also gained the authority to buy sovereign bonds on the secondary and primary markets, offer credit lines to governments and recapitalize banks as the Greece-triggered debt troubles have spread.
China's foreign ministry yesterday said the country hopes the European Union takes effective measures to restore market confidence in tackling its debt crisis.
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