China hopes for progress in Greek debt talks
China said on Thursday it hoped that talks to avert a debt default in Greece would succeed in bringing an end to the crisis.
“We hope the ongoing negotiations about Greece’s crisis can make progress and can soon help Greece come out of the crisis,” Foreign Ministry spokesman Lu Kang told a daily news briefing.
Chinese Premier Li Keqiang leaves for Europe next week on a trip that will include a China-EU summit in Brussels and a visit to France.
The foreign ministry spokesman reiterated China’s support for “the EU’s integration process” and a stronger eurozone.
Without a cash-for-reform deal in the next 48 hours, the chances of Greece repaying 1.6 billion euros to the International Monetary Fund (IMF) look slim. A default could trigger a bank run and capital controls, followed by a slide out of the single currency area.
Greek Prime Minister Alexis Tsipras was due to resume talks with Greece’s lenders at 9 a.m. (0700 GMT) before the ministers reconvene at 1 p.m. and European leaders begin arriving in Brussels later this afternoon.
Last year, China signalled it would buy bonds when Greece issues debt again, in a show of support for a financially-stricken nation that hopes to become a gateway into Europe for Chinese products.
[Reuters]
