European Union countries have addressed China to render financial help, executive director of the European fund of financial stability Claus Regling told an international industrial forum being held in India, ForUm correspondent reports.

"The address of the European countries to China for financial help is a normal practice. It does not mean we bow down to Beijing," he said. 

According to Regling, the European fund of financial stability is trying to persuade China to allocate $100 milliard for stabilization of economic situation in Europe. "Exactly this sum of money is needed to recapitalize European banking system," he explained and added the Chinese government declares it is not ready to consider such financial support yet.


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