- Klaus Regling hopeful Beijing will continue to buy bonds issued by the fund
- Chinese President Hu Jintao says country 'has a major role to play'
- €440 billion plan to save the eurozone shown scrawled on paper scrap


The head of Europe's 440 billion euro bailout fund played down hopes of a quick deal with China to throw its support behind efforts to resolve the bloc's debt crisis but said he expects Beijing to continue to buy bonds issued by the fund.

Klaus Regling, chief executive of the European Financial Stability Facility (EFSF), was in Beijing for talks with Chinese officials a day after euro zone leaders struck a last-minute accord on the two-year-old debt crisis.

French President Nicolas Sarkozy said he had spoken to Chinese President Hu Jintao by telephone yesterday and that Hu was relieved Europe had announced a deal to tackle a debt crisis that otherwise could have taken down the entire world economy.

In an interview with Chinese State television Mr Hu said: 'China has a major role to play. China must deploy more resources to stimulate the world economy: If they decide to invest in the euro rather than the dollar, why reject that? '     

'Why not accept that the Chinese place their trust in the euro zone?'

European leaders are now under pressure to finalise the details of their plan to slash Greece's debt burden and strengthen their rescue fund.               

After their summit in Brussels, governments announced an agreement under which private banks and insurers would accept 50 percent losses on their Greek debt holdings in the latest bid to cut Athens' debt load to sustainable levels.




Read rest of article here: http://www.dailymail.co.uk/news/article-2054631/Eurozone-bailout-chief-Klaus-Regling-plays-hopes-quick-Chinese-fix.html#ixzz1c6xiPVUJ

What an irony, it is the same China that the Europeans refer to as the "sick man of Asia" that they now turn to for a bail out.

china should leave this arrogant, thieving europe to fix her self inflicted problem due to greed or rot down. china should focus in building her military capability because of the constant indirect threats it is facing from america with the full connivince of it's tail this same europe. china should take a cue from russia. arrogant europe is a sadist!

aurenflani:

china should leave this arrogant, thieving europe to fix her self inflicted problem due to greed or rot down. china should focus in building her military capability because of the constant indirect threats it is facing from america with the full connivince of it's tail this same europe. china should take a cue from russia. arrogant europe is a sadist!

Too simply, if European goes down China follows, China has to invest their money and export her goods, Europe is China's biggest business partner, if Europeans and the Americans can't buy Chinese goods then China economy will take a nose dive. China can not consume all they produce. So its not as easy as you see it.