Geithner Touts US Role in European Debt Crisis Solution

Geithner also reiterated that the US will not provide any cash to the IMF’s efforts. In Geithner’s view the unlimited debt swap line the US Federal Reserve has made available to the Eurozone’s banks is another brick in the firewall.

At this week’s meeting of Eurozone leaders, Geithner encouraged discussion of moderating current austerity measures to prevent a reduced growth and higher debt. Geithner also supports the recent long-term financing operations (LTRO) carried out by the European Central Bank, and said he saw a continuing need for such support.