China welcomes second bailout deal for Greece: central banker

11:17, July 24, 2011      

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China's central bank governor Zhou Xiaochuan said Saturday that China welcomes a second European bailout deal for Greece, stating that the move will help settle sovereign debt problems in the eurozone.

"Eurozone leaders and institutions reached a consensus on a second rescue package for Greece and measures to resolve the euro crisis at a summit on July 21. We welcome the move," Zhou said in a statement posted on the website of the People's Bank of China.

The bailout will protect financial stability in the eurozone, boost market confidence and promote the European Union's economic recovery, he said.

Under the bailout deal, the eurozone and the International Monetary Fund will shell out 109 billion euros (157 billion U.S. dollars), with private bondholders contributing another 50 billion euros.

"We support the efforts made by the European Union and the eurozone in combating the global financial crisis and improving their fiscal regulations," he said.

"China has always been confident regarding the eurozone and the euro and will continue to play an active and stable role in the international financial market," he said.

China will strengthen its cooperation with the European Union, the European Central Bank and the European Financial Stability Facility, he said.

The European financial market was, is and will continue to be one of China's biggest investment markets, he added.

Source: Xinhua
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