BRUSSELS, July 8 (UPI) -- China's ambassador to the European Union said efforts to bailout Greece showed issues "not yet … resolved," but said risk came with the territory.
"Despite the recent payment of $17 billion by the European Union and the International Monetary Fund, some of the fundamental problems in Greece have not been resolved," Ambassador Song Zhe told a press briefing in Brussels.
"People are still discussing if there will be a restructuring (of Greek debt) or a default. Obviously, a restructuring would have much smaller negative consequences," he said, the EUobserver reported Friday.
But Song reiterated China's position saying it would continue to invest in European debt. China, he said, hasn't any "suspicious" motives for doing so.
"We can build stronger trade ties only by investing in a sound EU economy," he said.
"We hope in this way to bring back the stability of the euro so that in the future we can move ahead more smoothly."
|Additional Business News Stories|
WASHINGTON, May 22 (UPI) --Maintaining a flat level of natural gas production from U.S. shale deposits is an elusive prospect, an energy policy director told U.S. lawmakers.
OTTAWA, May 22 (UPI) --Canadian Prime Minister Stephen Harper faces more embarrassing questions as new evidence suggests the nation's strategy for building a strong arctic naval force is out of control.