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Geithner denies pressing policies at EU meet: US

16 September 2011, 23:46 CET
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(WASHINGTON) - The US Treasury denied Friday that Treasury Secretary Timothy Geithner pressed his policy ideas for the eurozone debt crisis on counterparts at the EU summit.

"Secretary Geithner encouraged his European counterparts to act decisively and to speak with one voice. He did not advocate or oppose any specific policy prescriptions," the Treasury said in a brief statement.

At the meeting of the 17-nation currency area's finance ministers and central bankers, Geithner only "contributed thoughts and ideas on how European governments could develop instruments to ensure adequate firepower to address their challenges," it said.

During a meeting in Wroclaw, Poland, Geithner urged Europe to increase the size of its 440-billion-euro ($607 billion) EFSF rescue fund for member states and take more action to shore up the financial and banking sector, according to Austria's Finance Minister Maria Fekter.

That put him at odds with German Finance Minister Wolfgang Schaeuble over the way forward to shore up Greece and other debt-laden governments and protect the continent's weak banks.


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