Premier Wen Jiabao is continuing his trip to Europe, as the continent grapples with the worsening Greek debt crisis. Bringing along contracts worth tens of millions of euros, he's expressing confidence that authorities in the EU will overcome the current situation.

Premier Wen Jiabao has told reporters in Budapest that he is still confident Europe can overcome the debt crisis.

The entire European Union is being dragged into a downward spiral, by the Greek fiscal crisis.

Now China is offering help.

During his first stop in Hungary, Premier Wen Jiabao said China will remain a long-term investor in the continent's debt market.

He stopped short of specifying how much Eurozone red ink the country might buy, but made his confidence in the overall economy there ... very clear.

Wen said, "I remember back in the year 2009, in the spring of that year, when the international financial crisis was at its height. I visited Europe during a very big snowstorm. At that time I sent the message, and I said that confidence is more important than the currency and gold. Today when we're seeing the sovereign debt crisis in Europe, what I have brought here is still confidence."

The first offer of help went to Hungary. Wen Jiabao said China will buy a certain amount of government bonds from Budapest, and the country's state development bank will provide one billion euros for mutual development projects.

Premier Wen is the first Chinese head of government to visit Hungary in 24 years. His trip was aimed at exploring greater trade ties with that nation, given its strategic location, and increasing role as a logistics and trade processing hub.

He then flew to Birmingham on Saturday, to kick off his journey to the United Kingdom. Wen Jiabao is expected to meet his British counterpart, David Cameron, during his stay. The UK is the second leg of the Premier's European tour, which will later take him to Germany.

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