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Eurozone debt crisis tops China-EU Strategic Dialogue's agenda

07-06-2012 10:18 BJT

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The EU-China Strategic Dialogue is set to get underway next week with both sides keen to find a way to stem the debt crisis affecting the eurozone and by extension one of its major trade partners.

Ahead of the meeting, an EU delegation visiting Beijing and the Cyprus Embassy held a joint press conference earlier on Thursday.

The euro zone crisis is likely to last longer than many have previously expected. Some are however suggesting that the region is slowly paving its way out of the woes.

EU ambassador to China H. E. Mr. Markus Ederer said, "The EU is certainly facing a very profound economic challenge, but I will argue that EU is also extracting itself, step by step, from that crisis."

On July 1st, Cyprus has kicked off its presidency of the EU council. This came shortly after the island has requested emergency help from the EU’s Financial Stability Facility.

Ederer said, "The situation is not a happy one, but it is very very manageable, and it will not be incompatible with Cyprus’s trying to negotiate in other loans and assistances, China included."

Reporter: “Now I’m standing in front of a set of national flags. This gives us a hint: in such an integrated world economy, not a single country can immune itself from the outside turmoil. So is China.”

Professor Wang Zhanpeng with Beijing Foreign Studies University said, "Against the backdrop of globalization, China should rescue Europe. But regarding the means, it may not be as expected by some European countries as pumping funds into the EU Financial Stability Facility, because Europe is a big economy, almost twice the GDP volume of China. But by enlarging Chinese trade and investment in Europe, China could be helpful for Europe’s recovery."

A new round of the EU-China Strategic Dialogue will kick off on July 9th. High ranking officials from both sides will look into global hotspots such as Syria, developments in the DPRK, and also try to deepen trade and economic cooperation.

 

Editor:Zhang Rui |Source: CNTV.CN

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