China considers taking part in European rescue funds

China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis.

Chinese Premier Wen Jiabao made the claim last night but did not make explicit commitments to the European Stability Mechanism (ESM).

It came as petition to force a referendum on the fiscal treaty has been launched as a number of eminent economists told Oireachtas members the agreement was bad economics, but said the country had little choice but to sign up.