U.S. Treasury Secretary Timothy Geithner said in an interview with Bloomberg’s Executive-Editor Al Hunt that European officials have “laid out a strong program of reforms” that makes him confident in the continent’s ability to manage its sovereign-debt crisis.
“They have the capacity to make that program work,” Geithner told Hunt. “If they handle that well, then we have a very good chance of seeing the world economy continue to show these very promising signs of growth.”
Geithner also said that the Eurozone debt crisis probably won’t hurt U.S economy which, according to him, is “getting stronger”.
What Geithner is saying to America — in probably more than a thousand frantically-dispatched news releases — is keep spending America, keep buying stock. Why doesn’t that guy for once curtail his upbeat drivel and say he really doesn’t know how the economic tailspin in Europe will affect the U.S.? Sterling Greenwood/Aspen