China: EU bailout leaves 'fundamental problems' unresolved

China's ambassador to the EU has said Greece might default despite EU and IMF efforts, but indicated that Beijing will continue to support the single currency.

"Despite the recent payment of €12 billion by the EU and IMF, some of the fundamental problems in Greece have not yet been resolved ... People are still discussing if there will be a restructuring [of Greek debt] or a default, obviously a restructuring would have much smaller negative consequences," ambassador Song Zhe told pres...