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Geithner presses euro zone to leverage bailout fund

Sep 16th, 2011 07:57 by News

16-Sep (Reuters) — U.S. Treasury Secretary Timothy Geithner holds talks with European finance ministers on Friday on the possibility of leveraging the euro zone’s bailout fund to help resolve the debt crisis.

Washington set up an emergency fund to support U.S. lenders during the global credit crisis. With signs of stress in Europe now, the European Central Bank and those of Britain, Japan and Switzerland joined forces on Thursday to reintroduce three-month dollar liquidity operations in the fourth quarter.

PG View: More leverage? Really?! Excess leverage and mispriced risk pretty much caused the crisis. So by all means let’s gear-up and try and drive yields lower.

Author key: MK - Michael J. Kosares; GC - George Cooper; PG - Peter A. Grant; JK - Jonathan Kosares; RS - Randal Strauss. [see also 12 yrs of Discussion Archives]

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