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People's Daily Online>>Foreign Affairs

Chinese bailout funding for Europe possible

By Cheng Guangjin and Zhou Wa (China Daily)

08:12, February 03, 2012

Premier Wen Jiabao greets German Chancellor Angela Merkel in Beijing on Thursday. Both leaders said they were confident of economic recovery in Europe. Wu Zhiyi / China Daily

Wen raises prospect after meeting German chancellor

BEIJING - China may offer rescue funds to Europe, Premier Wen Jiabao said after meeting German Chancellor Angela Merkel on Thursday.

Wen said it was "urgent" to solve the European debt crisis, and China is willing to "involve itself more" in efforts to resolve Europe's debt issues through the International Monetary Fund, the European Financial Stability Facility and the European Stability Mechanism.

The mechanism is a $650 billion permanent bailout fund signed by 25 out of 27 European Union members on Monday.

It will become operational in July to take over from the facility, a temporary fund that has so far been used to bail out Ireland and Portugal.

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