Europe Wins Praise From Geithner, Cohn as IMF, Germany Spar
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Europe’s efforts to counter the fiscal crisis won praise from international finance chiefs and bankers even as Germany and the International Monetary Fund clashed over the next measure in the fight.
As the IMF hosts its annual meeting in Tokyo, U.S. Treasury Secretary Timothy F. Geithner said yesterday that the euro area is now on a “much more powerful, promising path.” Bank of America Corp. Chief Executive Officer Brian T. Moynihan told Bloomberg Television that although the turmoil will “ebb and flow,” it is now in a “pretty good equilibrium.”