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Geithner to urge Europe leaders to take action

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Glenn Somerville and David Lawder
December 3, 2011

Treasury Secretary Timothy Geithner is set to urge key European officials to take decisive action next week at a make-or-break summit to prevent a debt crisis from turning into runaway contagion.

Treasury announced Geithner will meet French President Nicolas Sarkozy, new Italian Prime Minister Mario Monti, and Spanish Prime Minister-elect Mariano Rajoy on the December 6-8 trip, which will include stops in Frankfurt, Berlin, Paris, Marseille and Milan.

At a briefing later, a senior Treasury official said President Obama had asked Geithner to make the trip and said he would be ready to offer insights and suggestions to the Europeans as they refine their own plans.

The official indicated that European countries had held discussions with the International Monetary Fund about providing bilateral loans that could be used to bolster its resources.

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This article was posted: Saturday, December 3, 2011 at 7:51 am

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