Eurozone split over Chinese help in debt crisis

[FarCenter]

Eurozone leaders are toying with the idea of asking China and other emerging powers to help them out of the debt crisis by taking part in a bailout fund, but some are reluctant to call in Beijing.

The possibility of asking for China, Brazil and others to come to their rescue emerged at a summit on Sunday as European leaders scrambled to find ways to boost their defences against the crisis.

The eurozone wants to beef up its 440-billion-euro rescue fund, the European Financial Stability Facility, to convince markets it has the means to protect highly indebted nations such as Italy.

"A quite broad agreement is taking shape on the reinforcement of the EFSF," French President Nicolas Sarkozy told reporters, cautioning that long hours of negotiations remained ahead in another EU summit set for Wednesday.

http://www.france24.com/en/20111023-eurozone-split-over-chinese-help-debt-crisis

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Of course, that might mean that they'd be selling US Treasury bonds.