Associated Press
Associated Press Writer
BERLIN - The United States and Europe broadly agree on the need for reform of the financial system, but global cooperation is needed, U.S. Treasury Secretary Timothy Geithner said Thursday. He also said countries are working together to balance cutting back deficits with supporting economic growth.
Geithner met German Finance Minister Wolfgang Schaeuble during a two-day visit to Europe that also took him to Britain and to the European Central Bank in Frankfurt.
The trip comes amid ongoing market volatility following European nations' agreement this month on a €750 billion (nearly $1 trillion) loan backstop for governments in danger of defaulting on debt — coupled with efforts to cut budget deficits.
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