BRUSSELS Oct 26 China has backed efforts to
tackle the euro zone's debt crisis but there is currently
nothing concrete concerning support for a special purpose
investment vehicle (SPIV) of the euro zone's bailout fund, a
Chinese diplomat said on Wednesday.
"China always supported the EU's effort to deal with the
crisis and has done its bit," said the diplomat, who is based in
Brussels. "China will continue to do so but, with regard to the
special purpose vehicle, there is nothing concrete and
Euro zone leaders are expected to approve a plan on
Wednesday to increase the firepower of the 440 billion euro EFSF
bailout fund, without euro zone countries having to put more
money into it.
Under the plan, a special purpose investment vehicle could
be set up by the EFSF to buy up the distressed debt of euro zone
governments. The SPIV would be open to private capital,
sovereign wealth funds and the IMF.