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Tuesday, February 14, 2012

The EU Begging Bowl Travels To China

The EU, in the form of EU President Herman van Rompuy, has yet again taken its begging bowl to China in a desperate attempt to avoid having to use its own funds to resolve its own self inflicted mess.

The Chinese, for their part, have been very polite and hospitable.

China's Premier Wen Jiabao said that China was ready to increase its participation in efforts to resolve Europe's debt crisis, as per AFP:

"China is ready to increase its participation in resolving the EU debt problems."

However, despite van Rompuy believing that this may mean that China will provide funds this time (China sent the last EU begging delegation back empty handed in 2011), it is clear that the Chinese quite rightly believe that it is for Europe to sort its mess out. This week the Chinese foreign ministry said that the European crisis had reached a "critical juncture", the implication being that the EU needs to recognise this and address the issues itself.

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