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Geithner: US took timely steps in Libor case

By FXstreet.com,  July 18, 2012, 09:55:00 AM EDT

FXstreet.com (Barcelona) - US Treasury Secretary Timothy Geithner assured on Wednesday that the US already took action and would take further powerful steps in the Libor rate fixing case, answering to accusations that the Fed had not addressed the situation properly.

Geithner also spoke about the state of affairs in Europe where he sees officials committed to fighting the crisis. He urged EU leaders to do all they can to "pull the EU from the edge. " That is why it is crucial that all short-term and long-term reforms are implemented.

The turbulences in the EU have a strong impact on the US economy which has slowed down in 2012. A "substantial and well-designed program for support of economic growth" should thus be put in place.

Geithner also commented on the uncertainty surrounding the US "fiscal cliff". He supported an extension of payroll  tax cuts and urged the Congress to increase availability of mortgage refinancing.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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