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Geithner Says He’s ‘Confident’ Euro Leaders Can End Crisis

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Dec. 7 (Bloomberg) -- U.S. Treasury Secretary Timothy F. Geithner said he’s encouraged by the “progress” euro area governments are making on ending the region’s sovereign debt crisis and that he’s “confident” they will succeed.

Geithner endorsed the idea of a “fiscal compact” between euro countries. He spoke to reporters in Paris after meeting with French Finance Minister Francois Baroin.

Geithner also spoke by phone today with Mario Draghi, president of the European Central Bank, according to a Treasury Department official who declined to give details, and he met with former ECB President Jean-Claude Trichet in Paris.

The Treasury secretary also spoke by phone with Spanish Prime Minister Jose Luis Rodriguez Zapatero; Christine Lagarde, managing director of the International Monetary Fund; and Singapore Finance Minister Tharman Shanmugaratnam, who heads the IMF Steering Committee, a group of 24 finance ministers that meets twice a year and advises the fund.

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To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net