Chinese prime minister offers support for euro

June 25, 2011 - 7:15 AM
Hungary China

Chinese Prime Minister Wen Jiabao, left, and his Hungarian counterpart Viktor Orban shake hands at the end of their press conference following their talks in the Parliament building in Budapest Saturday, June 25, 2011. The Chinese Prime Minister is on a two-day official visit to Hungary. (AP Photo/MTI, Laszlo Beliczay )

BUDAPEST, Hungary (AP) — Chinese Prime Minister Wen Jiabao has offered his country's support for Europe and its common currency amid the eurozone's debt crisis.

Wen says China is a long-term investor in the European sovereign debt market and has purchased a "not small" amount of euro-denominated bonds in the past years.

Wen says China will offer "consistent support for Europe and the euro."

Wen, on a five-day tour of Hungary, Britain and Germany just as Europe hammers out a plan to battle the eurozone debt crisis, met Saturday in Budapest with Hungarian Prime Minister Viktor Orban.

Wen says China is also willing to purchase bonds issued by Hungary, which does not yet use the euro, and offered Hungary a loan of 1 billion euros ($1.4 billion).