Bloomberg: Europe looks to IMF and China for aid

28 October 2011

European officials are studying the potential for an International Monetary Fund channel for money for their enlarged rescue fund, as China considers contributing to ending the area's sovereign-debt crisis.

The European Financial Stability Facility may explore setting up a special purpose vehicle with the IMF, Klaus Regling, the EFSF’s chief executive officer, said at a briefing in Beijing today. Separately, Chinese Vice Finance Minister, Zhu Guangyao, said an investment by his nation in the rescue package is “under discussion”.

French President, Nicolas Sarkozy, spoke with Chinese counterpart, Hu Jintao, by phone yesterday and the two agreed to “cooperate closely” to ensure global growth and stability.

Full article

© Bloomberg