Bloomberg News

China Won’t Get Extra Incentives for EFSF Help, Guaino Says

October 31, 2011

Oct. 31 (Bloomberg) -- European leaders aren’t offering China extra incentives in return for help resolving the euro area’s debt crisis, Henri Guaino, an adviser to French President Nicolas Sarkozy, said.

“There’s no question of negotiating something in return,” Guaino said in an interview broadcast on French radio station Europe 1 today.

“If China comes in, it’s to make an investment in a fund that is going to play an important role in global stability. No- one knows if they’ll come in via this fund, or if they’ll come in via the IMF or even if they’ll really come in at all,” he said.

Sarkozy reached out last week to his Chinese counterpart Hu Jintao to build support for an enlarged rescue fund designed to solve the region’s sovereign-debt crisis. The leaders talked just hours after a euro-region summit on Oct. 27 ended with an agreement to boost the European Financial Stability Facility to about 1 trillion euros.

To contact the editor responsible for this story: Steve Rhinds at srhinds@bloomberg.net


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