Europe looks to China for bailout funds

European officials responsible for the eurozone bailout fund commenced discussions on Friday with China to involve them in the EU rescue plan.

The European Financial Stability is hoping the Chinese government will invest in a plan to help save EU member nations from their crises.

The move comes after European leaders on Thursday clinched a new bailout deal with EU to help tame Europe's spreading debt issues.

Klaus Regling, CEO of the European Financial Stability, has been holding consultations with the Chinese to decide on provisions for raising cash. China has in the past been a regular buyer of EFSF bonds. “I am optimistic that we will have a longer term relationship,” he said.

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