BEIJING (Reuters) - Europe will not allow the failure of the euro and the countries of the European Union committed themselves to cutting deficits, the President of the European Council said Tuesday, seeking to allay fears that the crisis in the euro area may jeopardize China investmentChinese officials.
"All the countries of the EU are overthrew deficits." The most vulnerable countries are action determined to overcome the crisis, "President Herman Van Rompuy said in a speech at the Central Party school in Northwest Beijing, which form the Chinese leadership.
His four-day China visit coincided with a deterioration in the 18 months of Europe's sovereign debt crisis, with the Greece to be forced to restructure its debts and Ireland and Portugal also come under the pressure of growing concern.
China reported last month that he was prepared to buy more debt of weaker States in the euro area. There is no precise figures, but China has said that he has purchased billions of euros of debts.
"The euro is second in the world reserve currency and a currency strong and stable - same too high, compared, for example, your currency," he said.
"We are determined to defend and develop these assets for the benefit of our citizens and in dialogue with partners.
"I want to commend the confidence that China has demonstrated towards Europe in these difficult times." "A stable eurozone is in our common interest", Van Rompuy said in remarks to officials studied at the sprawling school.
"China invests in the euro area and it (is) the evidence of their confidence in the future of the euro area and the euro as a major reserve currency in the world.".
Van Rompuy said that the Greece and the Ireland had received financial assistance tied to strict policy measures and that an agreement with the Portugal had been concluded.
"And let me remind you that although these countries enjoy a disproportionately high attention of the international press, together, they represent only 6% of GDP in the euro area," he said.
Van Rompuy noted the strengthening banking regulation and economic recovery of the European Union, with the expectations of growth of 1.8% in the European Union this year and growth of 2% in 2012.
"The European side, our main contribution to the stability of the global economy is first to put our House in order, a stronger governance of the euro area and to tackle the problems of economies low and low budgets,"he says."
Van Rompuy also gently pressed again on the human rights and democracy, in his speech to the Communist officials who will be a day for running single-party State, saying that the world must learn a lesson from the tumult of today's Middle East.
"For us, the"Arab spring"was a clear reminder that the values of justice, democracy and social development are universal," he said.
Chinese leaders are more implacable face pressure from the West but also suspicious on what they see as subversion and abroad inspired dissent.
This alarm grew only where the Chinese sites overseas in February spread calls for demonstrations across China inspired by the "revolution of Jasmine" anti-authoritarian upheavals around the Arab world.
China has this year imprisoned, detained or placed in dozens of secret informal care of dissidents, human rights lawyers and protesters feared will challenge Communist party rule.
(Other reports by Michael Martina;) (Editing by Ken wills and Sugita Katyal)
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