U.S. Treasury Secretary Timothy F. Geithner said Europe is “making some progress” in combating a financial crisis that’s more difficult to solve than what the U.S. faced in 2008.
“If you look back over the last three months or so, they are starting to engender more confidence,” Geithner told business executives today in Charlotte, North Carolina. “They’re going to get their arms around this and contain it.”
Europe has a “much more difficult crisis to solve” than the U.S. did, he said.
Geithner was speaking at an event held by the Charlotte Chamber of Commerce. He visited the state to tour a Siemens AG energy plant and promote investments in manufacturing and technologies to create jobs.