Appreciation: ‘ECB doing the job of politicians’

US Treasury Secretary warned markets were outpacing their reaction to the eurozone crisis.

WASHINGTON: US Treasury Secretary Timothy Geithner said on Saturday the European Central Bank (ECB) was doing the job of Europe’s leaders and warned markets were outpacing their reaction to the eurozone crisis. He praised the ECB for firm action in wrestling with the eurozone’s snowballing debt and deficit problems, “substituting for the actions of government.” “All of us who look at Europe going through this have to have admiration for what they are trying to do and recognize the difficulty of it,” Geithner told the BBC in an interview to be broadcast early Saturday, excerpts of which were provided by the Treasury.

Published in The Express Tribune, September 25^th, 2011.