US Treasury Secretary Timothy Geithner presses euro zone to leverage bailout fund
US Treasury Secretary Timothy Geithner pressed euro zone ministers on Friday to leverage their 440 billion euro bailout fund and free up more resources to tackle a two-year-old debt crisis, a senior euro zone official said.
The Senate confirmed Timothy Geithner as Treasury secretary late Monday, while President Barack Obama's economic team grappled with ways to tackle economic woes on multiple fronts, from a worsening recession to failing banks to the millions of US homeowners facing foreclosure.