China finance minister 'worried about Europe'

China’s new finance minister said on Sunday it was unclear whether the euro zone would solve its debt problems over the next decade and suggested further turmoil would complicate efforts to reduce Beijing’s fiscal deficits.

Lou Jiwei said external difficulties might oblige China to run deficits for longer than anticipated as government expenditure was rising quickly and revenues growing only at a single-digit pace.

“I am really very worried about Europe. I am worried about whether it can get out of trouble in the next 10 years,” Lou said in an address to an economic forum.

via Business feed http://www.scmp.com/business/economy/article/1198749/china-finance-minister-worried-about-europe