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Premier Wen says China willing to help debt-ridden Europe

(Xinhua)

13:21, September 14, 2011

DALIAN, Sept. 14 (Xinhua) -- Premier Wen Jiabao said on Wednesday that China is willing to help debt-laden Europe by increasing its investment.

"We have been concerned about the difficulties faced by the European economy for a long time, and we have repeated our willingness to extend a helping hand and increase our investment," Wen said at the opening of the World Economic Forum's annual meeting of "New Champions 2001," a three-day event held in the city of Dalian in northeast Liaoning Province.

Wen also urged the European Union (EU) to acknowledge China's status as a market economy, and hoped EU leaders can look at Sino-EU relations from a bold and strategic view.

"Based on the WTO rules, China's full market economy status will be recognized by 2016. If EU nations can demonstrate their sincerity several years earlier, it would reflect our friendship," he said.

Wen added that he hopes his scheduled meeting with EU leaders next month will lead to a breakthrough in this regard.

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PD User at 2011-09-14117.120.18.*
China must press EU on the issues that concerned China in return for China"s support. The common sense is you can"t keep asking for things for giving nothing away. The EU is an illusion of 10 years of making. A fiscal and debt union in Europe in crisis is not possible and way beyond what many citizens of member states can stomach. In the sense the cost of fiscal union is too big to measure for all member states. Just think about how hard and how long for West Germany and East Germany to come together in economic terms. They"re not even yet. Without external support this time, Euro will fail this time, but at least the cost of the failure is measurable.
  

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