Nordic Prime Ministers expect help from China in defeating debt-crisis

Comments by prime ministers of Denmark and Finland made in World Economic Forum’s Annual Meeting 2012 in Davos this weekend received high-profile coverage in the news in China. Chinese media quoted them on saying that China has shown willingness to help in bailing out struggling countries in the Eurozone.

Finnish PM Jyrki Katainen noted that EU and China are on the same boat and a slowdown in the Europe would have a big impact on China as well. Thus China should put part of its foreign reserves surplus into use via investments in the IMF.

Denmark currently holds rotating EU presidency and PM Helle Thorning-Schmidt implied that the country wishes to work towards increased cooperation with China. She was confident that a solution will be found.

China appears unwilling to go at it alone and would rather see a multinational solution to the current crisis. Some of the preconditions on help would involve shifting power in global organizations, IMF in particular, from Europe to China. You can read Chinese media take on the matter from here.