Gei­th­ner calls for clear, sin­gle Euro­pean voice

Kathimerini English - - NEWS -

US Trea­sury Sec­re­tary Ti­mothy Gei­th­ner yes­ter­day called on Euro­pean pol­i­cy­mak­ers to speak with a uni­fied voice about their ef­forts to stem an emer­gency in Greece.

“It would be very help­ful to have Europe speak with a clear, more uni­fied voice and strat­egy,” Gei­th­ner said in Wash­ing­ton. “It is very hard for peo­ple who in­vest in Europe to un­der­stand what that strat­egy is. The sim­ple rule of cri­sis man­age­ment is you want to have a sim­ple, clear, uni­fied, declar­a­tive strat­egy.”

Gei­th­ner said he told Group of Seven lead­ers over the week­end that the Euro­pean Union has “a very sub­stan­tial fi­nan­cial arse­nal” at its dis­posal and needs to en­sure that it is “avail­able to be de­ployed to do the kind of things they need to do to make this process work.”

“That means make it avail­able so banks can be re­cap­i­tal­ized where they need cap­i­tal, to make sure there is a fund­ing avail­able to the bank­ing sys­tem,” he said. There “is no rea­son why Europe can­not man­age these prob­lems.”

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