WKYT | Lexington, Kentucky | News

Treasury chief looks to calm roiling markets

WASHINGTON (AP) - America's treasury secretary is hop-scotching his way through Europe, talking high finance. Timothy Geithner will meet with European finance officials this week to review a trillion-dollar rescue package being assembled to help stem the spreading debt crisis.

He's to talk today in London with the Chancellor of the Exchequer. Later, he'll meet with the head of the Bank of England and then the British government's new secretary for business and trade.

Then, it's on to Germany for another session with the head of the European Central Bank, followed by a one-on-one with Germany's finance minister.

One economics professor says the Obama administration is understandably concerned because the rescue package for debt-laden European countries has not calmed the world's financial markets.


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