Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
tommy271
Forumer storico
EU's Van Rompuy looks to China on debt crisis
Fri May 13, 2011 10:02am EDT
* EU's Van Rompuy to discuss debt issues in China
* Three-day trip will also cover business, trade
* EU-China trade valued at 400 bln euros, rising rapidly
By Luke Baker
BRUSSELS, May 13 (Reuters) - The European Union's most senior official travels to China next week for talks on the euro zone debt crisis, trade and business, with Beijing playing a critical role in buying distressed European debt.
Herman Van Rompuy, president of the European Council that represents the EU's 27 member states, will visit Beijing, Chengdu and Shanghai during the May 15-18 trip and hold talks with President Hu Jintao and Premier Wen Jiabao, among others.
The visit, at the invitation of the Chinese, coincides with a deterioration in Europe's 18-month sovereign debt crisis, with growing concerns Greece could be forced to restructure its debts and Ireland and Portugal also under pressure.
China signalled last month it was ready to buy more debt from the euro zone's weaker states, dubbed the periphery, in a move to help stabilise the bloc. There are no precise figures, but China has said it has bought billions of euros of debt.
"On the Chinese side, they are asking for some information about the euro zone crisis and how things are developing," a spokesman for Van Rompuy said of the visit.
"They are investing a lot of money in the euro and in the peripheral countries, so they are very interested in that. They are interested in what we have done and what our vision is."
Last May, the European Union established a 440 billion euro temporary mechanism involving emergency loans to help handle the region's sovereign debt problems, with that facility to be replaced by a 500 billion permanent fund from mid-2013.
Over the past year, Greece has been granted 110 billion euros in bilateral loans from the EU and International Monetary Fund, Ireland has agreed a 85 billion euro bailout package and Portugal is to receive 78 billion euros of aid soon.
But there are few signs the measures are having an impact, with all three countries still needing to undergo extensive structural and fiscal reforms before they are likely to return to growth and be able to raise financing in the markets.
From China's point of view, it is likely to want reassurances that its investments are sound and that the prospect of debt restructurings, which could force a sharp writedown in the value of its holdings, remains slim.
Van Rompuy may also discuss Greece, where privatisation is a central plank in the EU/IMF restructuring plan. Athens needs to raise around 50 billion euros from privatisations in the coming three years, but first needs to find viable buyers for the assets it will put on the block.
ARMS EXPORTS AND HUMAN RIGHTS
Aside from the debt crisis, Van Rompuy is expected to focus discussions on business, trade and investment, with the EU's raising of duties on an array of Chinese imports prompting retaliatory measures from Beijing.
From the European Union's perspective, China has a way to go to improve the climate for business and investment, and it wants reassurances on piracy and intellectual property rights, particularly in the pharmaceuticals industry.
EU-China trade in goods was valued at nearly 400 billion euros last year, up more than 30 percent from 2009. Trade in services and foreign direct investment are also growing.
"The focus will be on the need for a two-way street for trade and investment," said an EU official. "We'll also emphasize the need to maintain access to raw materials and enforce intellectual property."
China has in the past called for the European Union to end its embargo on arms exports, in place since the Chinese government crackdown on protesters in Tiananmen Square in 1989.
Britain and other major EU arms exporters have pushed for an end to the ban, and Catherine Ashton, the EU's high representative for foreign affairs, suggested last year it was time to drop it, but opposition remains stronger in the bloc.
A spokesman said Van Rompuy would not raise the issue but would listen carefully to China's position if it broached the topic. He added that Van Rompuy could raise China's record on human rights "at a certain moment" if it was appropriate.
Fri May 13, 2011 10:02am EDT
* EU's Van Rompuy to discuss debt issues in China
* Three-day trip will also cover business, trade
* EU-China trade valued at 400 bln euros, rising rapidly
By Luke Baker
BRUSSELS, May 13 (Reuters) - The European Union's most senior official travels to China next week for talks on the euro zone debt crisis, trade and business, with Beijing playing a critical role in buying distressed European debt.
Herman Van Rompuy, president of the European Council that represents the EU's 27 member states, will visit Beijing, Chengdu and Shanghai during the May 15-18 trip and hold talks with President Hu Jintao and Premier Wen Jiabao, among others.
The visit, at the invitation of the Chinese, coincides with a deterioration in Europe's 18-month sovereign debt crisis, with growing concerns Greece could be forced to restructure its debts and Ireland and Portugal also under pressure.
China signalled last month it was ready to buy more debt from the euro zone's weaker states, dubbed the periphery, in a move to help stabilise the bloc. There are no precise figures, but China has said it has bought billions of euros of debt.
"On the Chinese side, they are asking for some information about the euro zone crisis and how things are developing," a spokesman for Van Rompuy said of the visit.
"They are investing a lot of money in the euro and in the peripheral countries, so they are very interested in that. They are interested in what we have done and what our vision is."
Last May, the European Union established a 440 billion euro temporary mechanism involving emergency loans to help handle the region's sovereign debt problems, with that facility to be replaced by a 500 billion permanent fund from mid-2013.
Over the past year, Greece has been granted 110 billion euros in bilateral loans from the EU and International Monetary Fund, Ireland has agreed a 85 billion euro bailout package and Portugal is to receive 78 billion euros of aid soon.
But there are few signs the measures are having an impact, with all three countries still needing to undergo extensive structural and fiscal reforms before they are likely to return to growth and be able to raise financing in the markets.
From China's point of view, it is likely to want reassurances that its investments are sound and that the prospect of debt restructurings, which could force a sharp writedown in the value of its holdings, remains slim.
Van Rompuy may also discuss Greece, where privatisation is a central plank in the EU/IMF restructuring plan. Athens needs to raise around 50 billion euros from privatisations in the coming three years, but first needs to find viable buyers for the assets it will put on the block.
ARMS EXPORTS AND HUMAN RIGHTS
Aside from the debt crisis, Van Rompuy is expected to focus discussions on business, trade and investment, with the EU's raising of duties on an array of Chinese imports prompting retaliatory measures from Beijing.
From the European Union's perspective, China has a way to go to improve the climate for business and investment, and it wants reassurances on piracy and intellectual property rights, particularly in the pharmaceuticals industry.
EU-China trade in goods was valued at nearly 400 billion euros last year, up more than 30 percent from 2009. Trade in services and foreign direct investment are also growing.
"The focus will be on the need for a two-way street for trade and investment," said an EU official. "We'll also emphasize the need to maintain access to raw materials and enforce intellectual property."
China has in the past called for the European Union to end its embargo on arms exports, in place since the Chinese government crackdown on protesters in Tiananmen Square in 1989.
Britain and other major EU arms exporters have pushed for an end to the ban, and Catherine Ashton, the EU's high representative for foreign affairs, suggested last year it was time to drop it, but opposition remains stronger in the bloc.
A spokesman said Van Rompuy would not raise the issue but would listen carefully to China's position if it broached the topic. He added that Van Rompuy could raise China's record on human rights "at a certain moment" if it was appropriate.
IL MARATONETA
Forumer storico
ciao tommy, ti riferisci alla notizia data dal giornale tedesco, sull'uscita della grecia dall'euro?............
tommy271
Forumer storico
Si, mezz'oretta prima delle chiusure.
Nel fine settimana ci saranno senz'altro riunioni ad alto livello in vista dell'Ecofin.
Baro
Umile contadino
Speriamo che non sia la quiete prima della tempesta...
IL MARATONETA
Forumer storico
mi spiace che all'ecofin non ci sia ufficialmente il agenda anche il tema grecia; comunque accontentiamoci che se ne parli...
Baro
Umile contadino
Magari ufficialmente....ma se ne parlerà sicuramente.
- Stato
Similar threads
