China Backs EU Action on Debt Crisis; Euro Rallies
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China backs the European Union’s efforts to ensure financial stability, Vice Premier Wang Qishan said today, spurring a rally in the euro.
China supports the International Monetary Fund’s measures and “has taken concrete action to help some EU members counter the sovereign-debt crisis,” Wang said at the start of the Third EU-China High-Level Economic & Trade Dialogue, a one-day forum in Beijing to discuss economic and trade relations.