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Gazeta Wyborcza - Poland | Friday, October 28, 2011

Risky financial help from China

Directly after the EU summit in Brussels the chief of the euro bailout fund Klaus Regling has headed to Beijing in the hope of persuading the Chinese to invest in the fund. But financial aid from China is a risky business for the Eurozone, the liberal daily Gazeta Wyborcza warns: "Of course in a global economy money no longer has a national character, and political conviction plays an even smaller role. The money can be dirty (coming from criminal activity or fraud for example). From an economic point of view the Chinese money should be clean. But from a political and moral standpoint it is risky to take it. If the leaders of the EU are counting on China to strengthen the euro bailout fund they should ask themselves the following question: after taking billions for further bailouts of Greece or Italy will they still have the courage to call for the respect of human rights in Tibet and Xinjiang? There is every reason to fear where this Europe is taking us."

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