China’s Central Bank Reiterates Its Confidence on Euro Zone

China trusts the stability of the euro zone and the euro, said Yi Gang, the Vice President of the People’s Bank of China at a conference on financial stability on Monday.

A united, prosperous and strong Europe plays a major role in global stability and development, Yi noted, adding that: “We support the European Union, the European Central Bank and the International Monetary Fund adopted measures to fight the debt crisis, we are ready to explore together with the European Union in different ways of effective cooperation.”

The Deutsche Bundesbank announced that Yi and Bundesbank board member Andreas Dombret agreed at to deepen their cooperation in the field of financial stability. Both stressed fair distribution of roles between monetary policy and macro-politics of the central challenges in the field of financial stability.