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PBOC on EU aid

09-27-2011 10:11 BJT

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PBOC’s Zhou Says ‘Too Early’ to Decide How to Aid Europe

It’s “too early” to determine how emerging economies can further help the euro area overcome its sovereign debt crisis because reforms are still under way, China’s central bank Governor Zhou Xiaochuan said.

“We need to first see if euro-zone countries can implement their July 21 decision,” Zhou told reporters at the International Monetary Fund in Washington on Sept. 24, referring to a pledge by European leaders to expand the powers of a regional rescue fund. He doesn’t expect Greece will default on its debt and anticipates Europe will be able to overcome its crisis through reform, he told reporters.

Group of 20 finance chiefs last week pledged coordinated efforts to tackle rising risks as Greece teeters on the brink of default and stocks around the world plunged. Attention has focused on the potential for emerging economies to aid Europe as Japan and the U.S. grapple with their own expanding debt burdens and struggling growth.

Editor:James |Source: CNTV

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