23Jul/110
China hails new Greek debt deal
China on Saturday welcomed the new bailout plan for the troubled Greek economy as a solid step forward in addressing the eurozone's sovereign debt problem. "This will help in promoting a resolution of the eurozone sovereign debt issues, maintaining financial stability in the eurozone and its member states, and maintaining market confidence," central bank governor Zhou Xiaochuan said. "We support the efforts made by the European Union and the eurozone in combating the global financial crisis and improving their fiscal situation," he said in a statement posted on the website of the People's Bank of China. Eurozone leaders and private creditors agreed at an emergency summit late on Thursday to give Greece a new 159-billion-euro bailout.