Greek Crisis Needs Decisive Action, Says Chinese Banker

Zhu Min, deputy governor of the People's Bank of China, warns that the crisis in Greece could spread to other European Union countries if no decisive action is taken, reports the Wall Street Journal.

 

"I don't think Greece will go bankrupt because it's still relatively small," Zhu announces at a conference in Hong Kong. "But we don't see decisive actions to tell the market we can solve it.

 

"The Journal notes that Zhu's comments indicate China's growing influence and how rapidly fundamental concerns are growing about the euro zone. China is the world's largest holder of foreign-exchange reserves and is a major investor in the euro, adds the Journal.

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