Geithner urges eurozone to leverage bailout fund
By Annika Breidthardt | China Daily | Updated: 2011-09-17 08:08
WROCLAW, Poland - US Treasury Secretary Timothy Geithner urged eurozone ministers to leverage their bailout fund totalling 440 billion euros ($609.55) and free more resources to tackle the debt crisis during a meeting on Friday, a senior eurozone official said.
Washington set up an emergency fund to support US lenders during the global credit crisis, but the official said Geithner made no reference to the 2008 TALF program, which sources had said could be a model for the European Financial Stability Facility (EFSF).
Geithner's presence at the meeting in Wroclaw served to underscore the level of US concern.
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