European Council President Herman Van Rompuy said Wednesday that the European side will consult and cooperate with China in a concrete way to ensure the financial stability of the eurozone.
Together with European Commission President Jose Manuel Barroso, Van Rompuy delivered a speech and attended an opening ceremony for the "Currency for Europe" exhibition, which was held at the Beijing-based University of International Business and Economics.
Throughout the eurozone debt crisis, "we have appreciated the constructive Chinese reaction to the challenges we face," Van Rompuy said.
Europe and China share a wish to live in a multi-polar world, Van Rompuy said, stating that Europe highly values China's confidence.
Barroso, who also spoke at the event, quoted the Confucian saying "within the four seas, all men are brothers" to describe Europe's economic position in relation to other economies.
Barroso said the economies of the EU and China have become more closely linked in recent years, confirming the need for common analysis and joint actions by both sides to deal with fundamental challenges.
"We need to work ever more closely together on a wide range of issues to make change happen for the better, and for the well-being of our citizens and future generations," Barroso said.
"China is now a global force and so it is especially welcome," Barroso said. Increased Chinese consumption, like increased economic discipline and convergence in Europe, will be important for delivering sustainable global growth, he said.
Eurozone economies and financial institutions have become closely interdependent with the arrival of the public debt crises, Van Rompuy said.
"That is why national leaders within the European Council have had to deal with this crisis together," Van Rompuy said.
Some European government have taken drastic measures, including budget cuts and economic reforms, to negate the effects of the eurozone debt crisis. A so-called "firewall" rescue fund currently amounts to at least 500 billion euros.
"We have also strengthened central surveillance and enforcement mechanisms for public debts and deficits to prevent future trouble," Rompuy said.
People's Bank of China (PBOC) Governor Zhou Xiaochuan also attended the speech and opening ceremony.（Source: Xinhua）