American scholars Spencer pointed out that the current debt crisis in China to help Europe’s considerable risk, but even more limited relief will not solve the fundamental problem of the debt crisis in Europe.

According to the First Financial Daily reported on September 15, Stanford University, 2001 Nobel laureate in economics, visit Spencer in Beijing recently, yesterday, “First Financial Daily” reporters, he noted that the current China is helping to Europe the risk of significant debt crisis, and even more limited relief will not solve the fundamental problem of the debt crisis in Europe.

“The problem now facing the euro area is a structural problem, you need the Europeans pain determined to reform the international community for its assistance is only a temporary solution, a great uncertainty about the future euro zone.” Spencer told reporters said.

Greece, Italy and other countries sovereign debt crisis broke out, is that these countries do not comply with fiscal discipline under the kinds of consequences. Including France, Germany and many other officials believe that the debt crisis of the country must take austerity and fiscal restraint, fiscal discipline, rebuild, in order to win future opportunities for sustainable development, and short-term relief will not solve the fundamental problem.

Spencer agree with this view, he told reporters that the problems of the euro-zone countries should as soon as possible revenue and expenditure reforms, and should give due consideration to temporarily withdraw from the euro zone, waiting for economic and financial rehabilitation before attempting to return.

“But in any case the reform, the effect will be quite limited, because deep inside the quagmire of debt, the economy has lost its vitality in the long term.” Spencer said.

In this context, Spencer believes that the uncertainty of the euro area is very large problem, central banks need cooperative solutions to European governments, is a very dangerous economic crisis. And the United States compared to the problems facing the United States is now competing political parties, nature is not the same.

“In such a large uncertainty in the context of China if the shot to help the debt crisis, the risk is very large.” Spencer believes that even if China’s European crisis bail, in terms of the whole crisis will be more limited, but this does not conducive to reform the country’s financial debt and fiscal discipline, rebuilding the core of the debt crisis within the EU need to resolve underlying problems, and ultimately the formation of the euro area financial unity.