Opinion: (Dominique Strauss-Kahn, former IMF Chief): “Former International Monetary Fund chief Dominique Strauss-Kahn …sharply criticized Europe’s handling of its debt crisis and predicted as many as seven years of subpar European growth unless the Continent’s leaders changed policies.
“Europe’s political shortcomings are ‘bleeding away, day by day, the remaining confidence investors may have in politicians being able to solve the crisis,’ Mr. Strauss-Kahn said. …the IMF is ‘in limbo’ because it requires political approvals that may take months to obtain, he added. (Source: The Wall Street Journal)
“Strauss-Kahn, who attended an economic conference organized by NetEase, one of China’s leading internet companies, stressed that European nations make up 25% of global GDP. If their economy stagnates, the whole world will be influenced, including China.
“He proposed that China should offer direct or indirect assistance to soothe the financial crisis in the eurozone via the IMF. At the same time, he said the IMF should raise China’s voting power in the organization.
“Strauss-Kahn said it is impossible for eurozone countries to get out of their predicament by themselves and this presented a great opportunity for China. He said China is a big country but still has to take a full role as a member of the international community. European countries may be reluctant to accept China’s help directly, and the best way is therefore to do so through the IMF.” (Source: Want China Times)
My Comment: China will not help the EU and neither will any aid, which will simply disappear as in the abyss because this crisis is not the crisis of economy, banks, or state competitiveness, but a demonstration of the lack of correct connections between people. And it will not be over until mutual guarantee is established between people, nations, and the EU countries.