"Chinese media reported that Commerce Minister Chen Deming saying that the crisis may worsen in January and February, and that the €750bn (£635bn) European and International Monetary Fund rescue fund would not solve the problem as the rescue financing would eventually have to be repaid at high interest rates.
“These measures just turn an acute disease into a chronic one, and it’s really hard to say whether these countries that are in deep trouble over the debt crisis can recover in the coming three or five years,” Mr Chen was quoted as saying.
His comments step up the rhetoric against Europe as indebted eurozone nations attempt to rein in public spending and bring borrowing down.
China has been supportive of Europe so far, indicating it could use its vast reserves to buy sovereign debt to keep yields down.
However, Mr Chen’s call for Europe to take more urgent action to solve its problems suggests China’s patience may be wearing thin..."
at http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8223824/China-fears-euro-debt-crisis-will-go-from-acute-to-chronic.html
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