Timothy geithner

Euro zone damps talk of rapid debt crisis steps

Euro zone officials are working on ways to magnify the financial firepower of the euro zone's rescue fund to fight a sovereign debt crisis more effectively, a senior European Central Bank policymaker said on Monday.

ECB fights to avoid role in euro zone rescue fund

The European Central Bank battled to avoid being dragged further into the area of fiscal policy this weekend, as its policymakers stood firm against using the ECB to help supercharge the euro zone's rescue fund.

IMF urges ECB to play bigger crisis-fighting role

European policymakers, stung by criticism for failing to stem the euro zone debt crisis, face the tough task of quickly stopping fallout from Greece's near-bankruptcy from spreading into the world economy.

European gov'ts, ECB must team up on crisis: Geithner

Treasury Secretary Timothy Geithner bluntly told European governments on Saturday to eliminate the threat of a catastrophic financial crisis by teaming up with the European Central bank to boost the continent's bailout capacity.

Bill Gates backs financial transaction tax to aid poor

A report by Microsoft founder Bill Gates to Group of 20 ministers on Friday proposes raising new funding for poorer countries by taxing financial transactions, tobacco, and shipping and aviation fuels, according to details of a G20 report obtained by Reuters.

Gates backs financial transaction tax to aid poor

A report by Microsoft founder Bill Gates to Group of 20 ministers on Friday proposes raising new funding for poorer countries by taxing financial transactions, tobacco, and shipping and aviation fuels, according to details of a G20 report obtained by Reuters.

Greek default talk gathers pace

Talk of a possible Greek default gained pace on Friday while a pledge by the world's major economies to prevent Europe's debt crisis from undermining banks and the global economy failed to lift financial markets for long.

Geithner slams China's intellectual property policies

Treasury Secretary Timothy Geithner said on Thursday that China is holding to its decades-old strategy to steal American intellectual property, in a pointed statement reflecting U.S. officials' growing impatience with Beijing.

Geithner certain euro zone will boost bailout fund

Treasury Secretary Timothy Geithner said on Thursday he was sure Europe would boost the firepower of its bailout fund to contain the debt crisis as pressure on Europe grew to act decisively to calm markets.

Europe must do more to quell crisis: U.S. official

Europe's debt crisis is the biggest threat to the global economy, the Treasury said on Wednesday, and it called on European policymakers to provide unequivocal support to banks and governments under stress.

Emerging powers can play vital world role: Brazil

The president of Brazil, Dilma Rousseff, on Wednesday told the United Nations that fast-growing emerging economies can play a vital role to help stem the global economic crisis, marking the latest move by developing countries to become the equals of the world's traditional powers.

Geithner says Europe will draw on U.S. crisis lessons

Treasury Secretary Timothy Geithner said on Monday he believes that European leaders will incorporate some lessons and methods employed by the United States during the financial crisis as they work to quell their sovereign debt woes.

Greece must shrink state to avoid default: lenders

International lenders told Greece on Monday it must shrink its public sector and improve tax collection to avoid default within weeks as investors spooked by political setbacks in Europe dumped risky euro zone assets.

Dollar, Dollar-Related Assets Soar, Precious Metals Fall

Gold fell Monday in midday trading as investors decided to diversify their safe-haven opportunities by increasing their holdings of U.S. Treasuries, the dollar and the Japanese yen, said George Cocalis, senior market strategist for PFGBEST.

Wall St set for lower open on growing euro zone woes

Wall Street stock indexes were set to drop more than 1 percent at the open on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn to safer assets such as gold.

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