Hong Kong financial officials on resolving Europe's debt crisis: from three aspects

Xin,, December 7-Hong Kong Economic Times reported, European debt crisis months rapidly changing market attention Friday (9th), EU Summit can effectively resolve the crisis. Hong Kong SAR Government's Secretary for financial services and the Treasury said on 6th to European debt problems, should be in 3 ways, process complex and long, and during this process, the capital markets will continue to be considerable fluctuations.　　Ratings agency standard and poor's in its 15 Member States of the euro rate, k c CHAN, believes that "European debt problems is in itself this is not good, downgrades are expected", the market need not be unduly worried. Interview k c Chan pointed out that the European short-term problems should ease the tight funds, for example by the European Central Bank's monetary easing: "whether it be through buying European debt or the discharge to the Bank, in short to avoid a credit crunch sth European Central Bank in the past have done too little, because she does not have the responsibility, but now things have changed and need to be involved in
More than that. " Regarding long-term measures, Mr Chan said again address the importance of structural deficit, "or higher dividend to 7 per cent, twice the case, market reaction to the debt will become increasingly bad."　　In his view, Italy recently proposed austerity programme, including raising the retirement age and the introduction of a luxury tax proposal, that is, towards the direction of healthy development, but once too hasty measures pushed very dense, will destroy the economy and must therefore be carefully weighed.　　Third step to solving European debt problems, is to have a more effective agreement to bind the financial situation of the Member States.-keung pointed out that the Franco-German bilateral Summit in a few days ago, has seen agreement programme introduced the possibility, together with the European Central Bank also issues related to interpretation of the same caliber, believed that the new Protocol introduced by the EU the opportunity is enormous. See European debt problems worse, also begin to assess the impact of eurozone collapse, but Mr Chan said bluntly: "it's going to be a disaster, I do not see the EU will be allowed