BREAKING NEWS

US's Geithner: Europe can absorb debt crisis costs

By REUTERS

SEPTEMBER 10, 2011 01:58

WASHINGTON - US Treasury Secretary Timothy Geithner said on Friday that Europe must work harder to demonstrate the political will to support weaker euro area states as they pursue financial reforms.

Geithner, in an interview with Bloomberg Television, said that European countries struggling with debt problems need "unequivocal" financial support from stronger states.

"It is completely within the capacity of the stronger members of the euro area to absorb those costs. Those costs would be much, much greater for them and their economies if they sit here and do nothing and they recognize that," Geithner said. "So this is a good sensible financial calculation for them."

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