August 2, 2012
Geithner meeting German finance minister, Draghi
U.S. Treasury Secretary Timothy Geithner is to meet his German counterpart and the head of the European Central Bank on Monday following a flurry of pledges to save the euro that raised expectations of decisive action soon. Germany, however, appeared to downplay those hopes.
Geithner will meet Finance Minister Wolfgang Schaeuble on the North Sea island of Sylt, where Schaeuble is vacationing. After the meeting, which Germany says was initiated by the U.S., Geithner will travel to Frankfurt to meet ECB President Mario Draghi.
Finance Ministry spokeswoman Marianne Kothe said only that Geithner and Schaeuble would hold informal talks and the question of the euro would be discussed.
Markets surged after Draghi said last Thursday that the ECB would do "whatever it takes" to preserve the euro. Over the following days, the leaders of Germany, France and Italy also said they would do all they can to protect the 17-country currency union.
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