Even as G20 leaders were meeting in Paris to discuss Europe's dire financial crisis, a leading advisor for the People's Bank of China, Li Daokui said in Beijing that the euro won't collapse and that the eurozone debt crisis could come to an end in three years.

Speaking at a forum at Tshinghua University (October 15) Li predicted EU countries will experience major reforms of their financial systems. He said he was more concerned about the American economic crisis, calling it a ''political and long-term crisis'' made more difficult by social issues in the American society leading to unrest such as the Wall Street protests.

Li said that Greece and Portugal, who are seeking bailouts from the IMF and the EU, will be confronted with ''long-term structural problems embedded in their economies'' and that key European economic players such as Germany and France ''will be able to bail themselves out, by pumping liquidity into banks and financial institutions through fiscal measures''.

As for his own country, Li sand that in the current time of economic uncertainty, China should deepen economic restructuring but not do a complete turnaround in macro-economic policies.

Read more