Treasury Secretary Timothy Geithner said Wednesday, May 26, that financial markets want to see euro zone countries put their $1 trillion standby package into place. The package is designed to assist and stabilize European currency.
Reuters reports that Geithner, on a visit to London, also urged Europeans to work for a globally consistent approach to financial reform as the European Union said it might go it alone with a crisis levy on banks.
According to the news service, after talks with his British counterpart, George Osborne, Geithner said of the EU plan to support indebted states: “It’s a good program (and) has got all the right elements. What markets want to see is action.”