China supports European integration
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China.org.cn, December 8, 2011
China backs European efforts for further integration and supports current initiatives by the European Union to tackle the debt crisis, Foreign Ministry spokesman Hong Lei told a regular press briefing Wednesday in Beijing.
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Foreign Ministry spokesman Hong Lei |
China will work with the international community to help stabilize the global financial market and promote the recovery and growth of the world economy, Hong said.
He said China has noted that the EU has made a series of important proposals to address the European sovereign debt crisis. China hopes that the proposals can help stabilize the market, restore the market faith and prevent the crisis from deteriorating, he added.
French President Nicolas Sarkozy and German Chancellor Angela Merkel Monday agreed on a series of reforms aimed at changing the EU treaty to impose tough control of eurozone budgets.
They said that Europe's two biggest economies were aligned on backing automatic penalties for deficit violators and locking limits on debt into euro states' constitutions.
The new treaty would include automatic sanctions for states that fail to observe the three percent deficit rule, as well as a budget-balancing rule across the eurozone, Xinhua reported.
Hong said new and significant decisions might be made during the EU summit to be held from Dec. 8 to 9 when leaders from the 27 member states meet in Brussels to discuss how to resolve the eurozone crisis.
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