China helped EU in crisis enough

Edited and translated by People's Daily Online

Beijing, Nov.16 (People's Daily Online) --Following the recent deterioration of the European debt crisis and the growing shortage of funds in Europe, the hope of a Chinese bailout for Europe has become the focus of reports by major Western media agencies.

Some media agencies are welcoming and expecting China's help, while others question it. Given the results of the G20 summit in Cannes, some have asserted that China has "tightened its purse strings."

The view is evidently groundless.

First, European countries have not reached a consensus on whether they need a bailout from China. European views are varied. Some has criticized China for failing to intervene in the debt crisis on one hand, while fretting about investments from China on the other hand, claiming that China would "buy Europe out."

Second, various sides have remained inactive because the European Union has not disclosed the details about its bailout plan. Germany and France did not put forward a feasible document for the bailout plan during the G20 summit in Cannes, and even failed to make certain that the bailout funds should be injected through the IMF or the European Financial Stability Facility (EFSF).