The EU is looking towards China to aide it in its current financial crisis. The Chief of the European Union bailout fund, Klaus Reding has been holding meetings with Chinese officials to discuss Beijing’s involvement in the bailout plan. Reding met with China’s Central Bank and Finance Ministry on Friday, to persuade the Chinese government to join the IMF in investing in the region.

China has previously expressed its lack of interest in investing heavily in Europe. According to Dr Baozhi Qu, a senior research fellow at the Skolkovo Institute for Emerging Market Studies in Beijing, Europe requires China’s investment desperately as China needs a stable European market for the export of its products. However Beijing is hesitant in investing in any vulnerable investment opportunities.

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Eight KFOR soldiers were injured on Thursday as they removed barricades blocking the border with Serbia. A statement issued by the International Force, confirmed the injuries took place as the officers removed blockades put up by ethnic Serbs in September. The barricades were constructed to protest the posting of Albanian Kosovo custom officials at the Jarinje and Brnjak border crossings. NATO troops and KFOR fired tear gas at demonstrators to dispel the crowd.

Serbia and Kosovo have agreed to partly unblock the crossings while officials discuss the withdrawal of Kosovo security personnel from the area. However negotiations have so far failed to reach any agreement.

Serbia does not recognize Kosovo’s sovereignty and considers it an UN-governed entity within its territory.

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US President Barack Obama faces opposition from the Republicans as he plans to introduce the “Buffett tax”. The “Buffet tax” is named after billionaire investor Warren Buffett who has proposed for the rich to pay higher taxes. The new law, if passed will increase the tax for those earning more than $1million a year. The move is part of the Obama administration’s efforts to tackle US’s alarming deficit. The Republicans oppose the plan; Mitch McConnell, the Senate Republican leader said the tax would damage the US economy further by punishing job creators. The new proposals by the government are likely to be focal points in next year’s elections.

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