Topic: Financial crisis in Greece
Greece should speed up financial reforms, and the International Monetary Fund should render financial aid to the debt-plagued country, the U.S. Treasury Secretary has said.
Timothy Geithner met on Saturday with his Greek counterpart, George Papaconstantinou, IMF Managing Director Dominique Strauss-Kahn and European officials a day after Greece asked for a massive bailout to stay afloat.
"Secretary Geithner encouraged them to move quickly to put in place a package of strong reforms and substantial concrete financial support," the U.S. Department of Treasury said in a statement.
During the talks Geithner also said that anti-crisis measures should be taken as soon as possible to prevent the Greek crisis from spreading to other European countries.
Greece on Friday requested EU for a loan of up to $40 billion and the IMF of some $13 billion to pay its looming debts.
But Germany, the Euro zone's biggest member, has so far been reluctant to issuing the loan without substantial budget cuts.
WASHINGTON, April 25 (RIA Novosti)
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Yury Gagarin: Life of the First Man in Space in Pictures
Infographics: Sledge Hockey
The unconstitutional takeover in Ukraine was the toughest, consistent and so far most effective Western counterattack launched amid the ongoing struggle for a fairer world order. Only the naïve believe that the United States and Europe will willingly share their right to rule the world, though their belief is worthy of respect.