September 24, 2011 / 2:03 AM / in 6 years

Europe to decide on EFSF by next G20: China's Zhu

WASHINGTON (Reuters) - The European Union will make a clear decision about boosting the capital of the European Financial Stability Fund before the next Group of 20 finance ministers meeting in mid-October, said Chinese Deputy Minister of Finance Zhu Guangyao.

“We hope both the ESM (European Stability Mechanism) and the EFSF will work together to support the stability of Europe,” said Zhu after a meeting of the G20 Finance and Development ministers in Washington.

The next meeting of G20 finance ministers will be in Paris on October 14-15. They are expected to put the finishing touches on the economic reform agenda before the November summit of heads of state and government.

Reporting by Frank Tang; Editing by Neil Stempleman

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