MONEY PROBLEMS

U.S. to Europe: Take Action!

Geithner urges euro-zone leaders to solve crisis.

As the European Central Bank gears up for a decisive meeting, the United States urges euro-zone leaders to step up and take action to finally solve the debt crisis. U.S. Treasury Secretary Timothy Geithner told Bloomberg Television that the euro zone's effort must include "bringing down interest rates in the countries that are reforming, and making sure those banking systems can provide the credit those economies need." The day before, he'd been in Germany meeting with that country's finance minister and the president of the ECB, who he said guided him through their plans for solving the crisis. Still, he warned not to expect immediate action. "What you know, from what Europe has said, that they are committed to doing what's necessary to hold the European Union together," he said. "I absolutely believe they have the means to do it."