A senior Indian official said finance ministers of Brazil

Chinese Premier Wen Jiabao said Beijing was willing to helpits biggest Rosetta Stone Language trading partner, but added that Europe must stop thecrisis -- which now threatens Italy -- from growing. "What we have to take note of now is to prevent thesovereign debt crises from spreading and expanding further," Wensaid on Wednesday in an apparent response to pleas to buy moreeuro zone government bonds. Chinese state media said the EU should recognise Beijing'shelp with the debt crisis by giving China market economy status,which would give better protection against European anti-dumpingpenalties -- a major irritant.A senior Indian official said finance ministers of Brazil,Russia, India, China and South Africa would discuss a Brazilianproposal to increase their holdings of euro zone bonds when theymeet in Washington on Sept. 22.But Greece's deputy finance minister injected a note ofscepticism, saying those countries had shown little or nointerest in buying short-term Greek debt despite invitations todo so.Credit markets are factoring in a 90 percent chance Greecewill default on its debts and they demanded the highest riskpremium on Italian Rosetta Stone language software five-year bonds at auction on Tuesday sincethe country joined the euro. Italian Prime Minister Silvio Berlusconi's government won aparliamentary confidence vote on a 54-billion-euro austeritypackage, which lawmakers were to finalise later in the day. Themoves have done little so far to stem doubts about whether theeuro area's third-biggest economy can manage its debts. Greece, Ireland and Portugal have all received EU/IMF rescuepackages, but many see Italy as too big to bail out.RATINGS CUT BNP Paribas announced a plan to sell 70 billion euros inassets to help ease investor fears about leverage and fundingthat hit its two main rivals.Bank of France Governor Christian Noyer said the Moody'saction on French banks was relatively good news, noting it putthem on a par with other major European lenders regarded ashealthy such as HSBC, Barclays and Deutsche Bank. "It's a very small downgrade and Moody's had a higher ratingthan the other agencies so it's just put them on the same levelor slightly better than the others," Noyer said.Some analysts Rosetta Stone Italian and industrialists say a combination of aGreek default and a financial meltdown in Italy could engender abanking crisis akin to the 2007-8 global credit crunch and risktearing the euro zone apart.

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