Foreign and Military Affairs

China voices confidence on Euro zone economy

(Xinhua)
Updated: 2011-06-30 17:54

BEIJING - China said Thursday it believes that the Euro zone will realize steady economic growth.

Foreign Ministry spokesman Hong Lei made the remarks when asked to comment on Greece's approval of a key austerity bill and the country's debt crisis.

"The difficulties Greece and some other countries have encountered indicated that there are still unstable and uncertain factors in the world economic recovery," Hong told a regular press briefing.

The Greek parliament on Wednesday approved the economic adjustment program worth 78 billion euros (about $110 billion), which will pave the way for the Eurogroup to greenlight more bailout loans.

"The international community should cooperate with confidence and tackle the challenges hand-in-hand," Hong said.

As part of the first Eurogroup bailout package for Greece last year, the second tranche of loans, which amounts to 12 billion euros ($17 billion), should be handed to Greece in June. But the loans have been held back as the country has failed to meet austerity targets.

The adoption of the bill is also expected to facilitate a second bailout package for Greece.