U.S. Urges Europe to take Decisive Action
Submitted by Antonio Carretero on Thu, 09/08/2011 - 04:02
United States is putting in its best efforts to fight the debt crisis in the country and in context to same, the country on Wednesday has urged Europe to take a determined action to resolve the same issue by shoring up its banking sector so they lend a good help in rebuilding its lost global market confidence.
To discuss on the matter, a meeting has also been scheduled on Friday in France between finance chiefs from the Group of Seven wealthy nations, says a senior U. S. Treasury official, according to whom Europe's economic health would be a key focus in the meeting.
"The first, most important priority for Europe and with Europe is to decisively address ongoing financial and sovereign stresses. That's the most important contribution they can make at the current time to the global recovery and I think that's where the focus will be," the official told to the reporters in Washington.
Moreover, there are also reports that U. S. Treasury Secretary Mr. Timothy Geithner will also be briefing upon his G7 counterparts of the plan, which as per his calculations will boost job growth in the country in the meeting.
Europe is handling many big issues together including its widening debt crisis and the huge political battle that occurred in Washington in July regarding the U. S. budget. These issues have not just shaken the business and consumer confidence majorly but have also threatened the global recovery severely.









