Bloomberg News

EU to Seek Yuan-Rate Pledge From China at G-20, EU Official Says

October 28, 2011

Oct. 28 (Bloomberg) -- The European Union will seek a pledge from China for more exchange-rate flexibility at a Group of 20 meeting next month, EU officials said.

The EU also will seek a pledge from the U.S. to lower its fiscal deficits, said the officials, who spoke on condition of anonymity. The G-20 nations also should commit to ensuring that the International Monetary Fund has sufficient resources, they said.

The officials also said the EU will not use the G-20 to seek contributions to help Europe’s debt-crisis rescue fund.

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net


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