China believes in €uro + negociates participation to Financial Firewall

    

*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...