January 27, 2012
The Treasury Department said Friday that the United States has not changed its position on contributing more funds for the International Monetary Fund to bail out Europe, despite comments from Secretary Timothy Geithner Friday that appeared to suggest otherwise.
A shift in position would have caused a head-on collision with congressional Republicans, who oppose using U.S. funds to fight the European financial crisis.
Geithner, speaking at the World Economic Forum in Davos, Switzerland, appeared to suggest that the United States could support more funds for the IMF — something vigorously opposed by House Republicans — if Europe makes more progress in solving the euro crisis on its own.
The United States wants the European Union to build a “firewall” so that debt problems in troubled nations like Greece cannot infect the entire euro zone and threaten the global economy.
This article was posted: Friday, January 27, 2012 at 9:58 am