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People's Daily Online>>Foreign Affairs

EU bailout fund chief holds talks in China

(Xinhua)

09:54, October 29, 2011

BEIJING, Oct. 28 (Xinhua) -- The head of the European bailout fund visited Beijing on Friday amid speculation that debt-stricken Europe is seeking help from the world's second-largest economy.

Klaus Regling, chief executive of the European Financial Stability Facility (EFSF), arrived only a day after European leaders reached a deal at a Brussels summit to tackle the ongoing debt crisis in Europe, which many fear may spark another global recession.

The relief plan involves increasing the bailout fund's size from 440 billion euros to 1 trillion euros by raising more money from cash-rich investors, such as China.

The fund, set up last year, has been used to provide financial aid to Portugal, Ireland and Greece.

Regling said at a media briefing in Beijing that 40 percent of the bonds issued by EFSF have been bought by Asian investors, but he declined to disclose who bought the bonds and how much they purchased.

"We all know China has a particular need to invest surpluses," he said, adding that China, with the world's largest foreign exchange reserves of 3.2 trillion U.S. dollars, is "interested in finding attractive, solid and safe investment opportunities."

He said that his agenda in China included meetings with officials from the Finance Ministry and the People's Bank of China, the country's central bank.

But the meetings were "regular consultations" instead of negotiations with potential investors and he did not expect to reach any concrete agreements with China during the visit, he said.


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Leave your comment8 comments

  1. Name

malHEHaq at 2012-01-2364.215.146.*
I have been so bewidlreed in the past but now it all makes sense!
PD User at 2011-11-0174.248.255.*
Disgusting. Bullies. This is tying the hands of mankind behind their backs, putting on a blinder, turning off electricity and dismantaling weapons. Then using wireless surveilance systems to decipher whereabouts and movements and infra rays to locate bodies. This is not war, this is serial killing by blood thirsty bullies.
PD User at 2011-11-0174.248.255.*
Disgusting. Bullies. This is tying the hands of mankind behind their backs, putting on a blinder, turning off electricity and dismantaling weapons. Then using wireless surveilance systems to decipher whereabouts and movements and infra rays to locate bodies. This is not war, this is serial killing by blood thirsty bullies.
PD User at 2011-10-30183.39.20.*
elee at 2011-10-29 14:13:21 IP:183.39.53.★ People's Daily Online needs to filter "elee" duplication otherwise problems intensify here ... to degrade this website!! That "elee 183.39.53" was duplicated & questionable for its motive!! The real "elee" did not post that statement as posted.
Mishra at 2011-10-3092.98.122.*
It will be a big mistake to buy these bonds.They had been eyeing Chinese surplus from day one,the whole EU crisis is another sham just like the war in Libya.Asia is not responsible for EU mishandling,and asia is still a developing zone.West can"t see rich asia and its all about keeping asian money in Europe or US.Mishra,India
  

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