US Treasury Secretary Timothy Geithner called on Europe and Greece to act today to implement programs aimed at stabilizing roiling markets.\u00a0\u00a0\u00a0<\/p>\n
\u201cThe markets want to see action,\u201d Geithner said at a press conference with the new UK Chancellor of the Exchequer George Osborne.<\/p>\n
Geithner tacked on stops in London and Germany following his Asia trip in the wake of troubles in financially-ailing Greece and the Eurozone. Today\u2019s session was mainly supportive. \u00a0\u00a0<\/p>\n
\u201cThis is mostly a meeting of the minds,\u201d Howard Wheeldon, analyst from London\u2019s BGC Partners told Fox News, \u201cNo decisions were expected.\u201d<\/p>\n
In the wake of Germany\u2019s unilateral action last week to stamp out certain speculative trading, the Treasury Secretary did push for Europe to work together on new regulations, saying the US was committed to a \u201ccomprehensive and consistent approach to financial reform.\u201d<\/p>\n
Geithner also encouraged Europe to look at \u201cstress tests\u201d\u2019 and other methods to maintain oversight of banks here.\u00a0<\/p>\n
While a new approach was pitched today by the EU to impose levies on banks to create a fund to support financial institutions, analysts say nations here have been slow to act.<\/p>\n
\u201cStress tests are bad if the country is not willing to back them up,\u201d Michael Hewson of CMC Markets explained to Fox News, \u201cor if they don\u2019t want to hear the news.\u201d<\/p>\n
With 45% of\u00a0 UK trade and 25% of US trade with Europe, Geithner said the US is looking not just for stability but for \u201cstrength in its recovery.\u201d<\/p>\n
That recovery , according to experts here , still seems a way off.<\/p>\n","protected":false},"excerpt":{"rendered":"
US Treasury Secretary Timothy Geithner called on Europe and Greece to act today to implement programs aimed at stabilizing roiling markets.\u00a0\u00a0\u00a0 \u201cThe markets want to see action,\u201d Geithner said at a press conference with the new UK Chancellor of the Exchequer George Osborne. Geithner tacked on stops in London and Germany following his Asia trip […]<\/p>\n","protected":false},"author":4512,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-579423","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/579423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4512"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=579423"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/579423\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=579423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=579423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=579423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}