The world at the bedside of the euro
While Europeans are struggling to develop a common strategy of leaving the euro crisis, several major powers, anxious, just lend a hand to the old continent. The U.S. treasury secretary, Timothy Geithner, will participate Friday and Saturday at a meeting of finance ministers of euro zone countries to be held in Poland. This is the first time a foreign official is invited to a meeting of the Eurogroup.
Officially, "the presence of a representative of the American administration will be part of the transatlantic dialogue on the current macroeconomic and financial issues," said the Polish Presidency in a statement. But in fact, Americans doubt the ability of Europeans to find a solution and Timothy Geithner should urge his counterparts to intensify efforts to resolve the crisis of the euro, says Bloomberg.One analyst told the agency "the Americans were anxious quietly and discreetly present, they become intensely anxious and present."
In the wake of rumors about a possible support from China to Italy, Chinese Premier Wen Jiabao told him at the opening of Summer Davos Forum, held for three days in Tianjin, China that his country "will continue to increase its investments in Europe Internet Payday loans." The prime minister said he was confident "China believes that the European economy can rebound." But Wen Jiabao said, "I hope that EU leaders consider their relationship with courage to China a strategic point of view." China wants to be granted market economy status from the European Union, which considers that the conditions are not yet in place.
China is not the only emerging economy to say ready to support the European Union.In fact, the five major emerging economies, BRIC (Brazil, Russia, India, China, South Africa), will discuss next week the opportunity to help the Union européenne.Ils could include increasing their holdings of bonds denominated in euros.
And Europe itself is mobilized. Greek Prime Minister George Papandreou, French President Nicolas Sarkozy and German Chancellor Angela Merkel should discuss the situation of the country on a conference call scheduled for late afternoon.
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