Comments on Robert Gottliebsen “France passes the baton to China”, 28/10/2011, http://www.businessspectator.com.au/bs.nsf/Article/France-China-US-EU-debt-deal-summit-loan-credit-cr-pd20111028-N2RD8?OpenDocument&src=sph&src=rot
If your information is correct, surely a mixed currency denomination required by the Chinese is fairer than using either currency alone.
The Chinese know its currency is rising in value, partly as international pressures. So if it is complete denominated in euro, then it is pretty hard to sell it to its people by the Chinese authority.
Most people understand why the Chinese are resisting rapid currency appreciation, because it will make huge losses due to its international assets or reserves, mostly in $US.
It is hypocritical of the US for it to pressure the Chinese to appreciate its currency against the $US without any mentioning of any considerations of the huge losses China will incur.