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Haupt arrow newsitems arrow China believes in €uro + negociates participation to Financial Firewall

China believes in €uro + negociates participation to Financial Firewall

Geschrieben von ACM
Wednesday, 02 November 2011
    
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*Cannes/G20 Summit/Angelo Marcopolo/- China believes in EU's potential and is negotiating its possible participation to a new Financial "Firewall" tool decided by the latest €uro-area Summit, positively stressed a key, Senior Chinese Official speaking to Journalists including "EuroFora" on the landmark meeting between President Hu Jintao and the 2011 G 20 Chairman, French President Sarkozy, which marked the eve of the Annual G20 Summit of Heads of State/Government starting tomorow.


    China is interested in, and believes in Europe's capacity to overcome any debt crisis, so that it doesn't exclude the possibility to actively participate into the recently proposed idea (by the latest, October 2011 €uroArea Summit in Brussels : See previous "EuroFora"s NewsReport) to include willing "Emerging" and other Countries such as China, or Russia, perhaps Brazil, India, etc., in a new collective Fund due to serve as one out of two "'Firewalls" protecting  €uroZone, said in substance the Chinese vice Minister of Finances, Zihu Guangyuao.


    But, since this would be better done through the IMF, by considerably augmenting its fresh Capital capacity by several Hundrends of Billions €, China's possible participaiion is an issue currently under discussion, that we hope it wil be concluded soon, positively. In particular, as it had been already said before, also at other occasions, "Emerging" Countries should have a better say inside the IMF and their voices should be better heard, pointed out the Chinese Official.


    China's 1st Press Briefing at Cannes' 2011 G20 Summit, held at the Chinese Delegation's Press Center, was attended by an unexpectedly large number of Journalists, which positively surprised the Chinese officials themselves, who, obviously hadn't been expecting such a large Media interest, and kindly promissed to participants to repeat the exercice in better material conditions...

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(NDLR : DraftNews, as already sent earlier to "EuroFora"s Subscribers/Donors. A complete and more accurate, Final version will be published asap).

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*Paris/ACM/12 October 2008/-

When Europeans really feel a vital need to urgently launch common replies to challenging World Crisis, as the present Financial turmoil of Global Markets, they forge new decision-making tools and new dynamics :

The 1st in History EuroZone Heads of State and Government Summit, organized in Paris at the invitation of French President, and current EU chair, Nicolas Sarkozy, with the participation of 15 national leaders and EU institutions' chairmen, partly enlarged to British Prime Minister Gordon Brown, after a highly symbolic duo with German Chancelor Angie Merkel, at General De Gaulle's birth-village, 50 Years after he welcomed there former German chancellor Adenauer (1958-2008), may have not one, but two results :

- The first, and more urgent, was to launch an "ambitious", "coherent", and "efficient" common European movement, able to stimulate "solutions" to the World Economic Crisis, as Sarkozy anounced from the outset : State Garantees (to new Bank debts up to 5 years), fresh Capital input (f.ex. by buying shares), support to distressed banks, (while also restructuring them), incite the European Central Bank to facilitate commerial bills europe-wide, etc.

"Acting swiftly", from tomorrow, national measures will quantify all these targets, with coordinated actions from all EuroZone's Governments : France, Germany, Italy and others, decided to anounce, at the same time, such concrete measures, according to agreements that we have already made all together, revealed Sarkozy at the final Press Conference, flanked by EuroZone's chairmen : EuroGroup's Jean-Claude Juncker, and Central European Bank's Jean-Claude Truchet, as well as EU Commission's Jose Baroso, to solemnly stress the will to find common European solutions.

- "United and Determined, all EuroZone's Countries will act to prove that Citizens can Trust" the Economy, Sarkozy concluded. If we attract also all EU's 27 countries, Wednesday in Brussels, then we can coordinate action with our American Friends at a Global level, he anounced.

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- "With this new Toolbox, we do not want to serve Bankers, but to work for Europe and its Citizens' interests", added Juncker.

- "For the moment, we want to act urgently to regulate the Crisis. But the time will come when those responsible for this, will have to account for their actions. Yes to real Capitalism, No to Speculators. Those who abused, will face sanctions, Sarkozy warned.


Need stimulates activities which create new organs, say biologists, and Gordon Brown, compatriot of Spencer, the famous bio-Historian, would certainly not deny that, after his surprise visit to EuroZone's Summit in Paris, which attracted him one hour more than scheduled...

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Decisions include also the creation of a Crisis-management European mechanism, which "requires constant Monitoring", as well as strengthening Economic policy cooperation between EuroZone's countries.

Sarkozy will be judged by History not just by the immediate Economic results, expected at the end of this week's decision-making proces at National and EU level, but also by the more far-reaching consequences at the aftermath of this Historic EuroZone 1st Summit : Will it succeed to become a precursor forging a New era in European institution's revitalization ?

Significantly, the French President sat, during discussions, between German Chancelor Merkel, and British Prime Minister Brown, facing the chairmen of EuroGroup, Juncker, ECB : Truchet, and EU Commission, Baroso, with Prime Ministers of Spain, Zapatero (a hot partisan of EuroZone's Summit) at his right side, and Italy's Berlusconi, at his left, surrounded by Austrian, Belgian, Cyprus', Finland's, Greece's, and Ireland's leaders, as well as Slovakia's, Slovenia's, Portugal's, Netherlands', Malta's and Luxembourg's leaders.

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Meanwhile, those who tabled for a rift between French and German positions were faced with a smiling Merkel at De Gaulle-Adenauer's meeting place, a sunny Saturday morning, and a particularly active-looking Merkel inside the French Presidential Palace at Elysee's gardens on Sunday, (as happy few photographers discovered)..

- "De Gaulle's hilltop, at Colombey-les-2-Eglises, gave an astonishing overview to a huge landscape, entirely surrounded by splendid Nature, as far as eyes could see", said to EuroFora an obviously charmed German Journalist.

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She was describing Saturday's inauguration of a High-Tech Memorial close to the Historic Giant Double Lorraine's Cross, built by famous Novelist Andre Malraux, to perpetuate the Memory of his famous call for "Resistance" to NAZI, and his vision for the creation of New Institutions and Franco-German reconciliation, to foster Europe's role in the World, also for the Future.

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Children playing at Elysee's gardens before the Historic 1st EuroZone's Summit : What Europe's Future will look like ?


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