BERLIN (MNI) – German Chancellor Angela Merkel will try to win the
confidence of Chinese leaders and investors in the stability of the
Eurozone during her upcoming visit there, a senior German government
official said Tuesday.
Merkel “will surely woo in China for the confidence of financial
investors and for joint efforts to stabilise the situation of the euro,”
the source said.
“Naturally, the euro rescue umbrellas EFSF and ESM are open to
investors,” the official reminded, adding that the volume of the funds
is currently sufficient. Thus, leveraging the EFSF is currently not an
imminent topic, “but that can quickly change,” he said.
More pressing is the question of increasing the financial means of
the International Monetary Fund, the source pointed out.
In her talks with the Chinese leadership, the chancellor might also
address the country’s foreign exchange rate regime, the official said.
He noted that there has been a “controlled appreciation” of the yuan
since 2005 and German exports to China have been rising last year more
strongly than imports from that country.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$X$$$,M$G$$$,MFX$$$,MGX$$$,M$$CR$,MT$$$$,M$Q$$$,M$A$$$]
