Tags: Geithner | ecb | Draghi | euro

Geithner to Meet With ECB Chief Draghi

Friday, 27 July 2012 04:44 PM

Treasury Secretary Timothy Geithner will meet with Mario Draghi, the head of the European Central Bank, in Germany next week. The meeting comes after Draghi sparked optimism about a resolution to Europe's financial crisis, saying he would do whatever it takes to save the euro.

The Treasury Department says Geithner is making the trip to discuss European crisis and other global economic issues.

Draghi's comments raised expectations that he could step in to lower high borrowing costs for countries like Spain and Italy. They also started a stock market rally on Thursday and Friday. The Dow Jones Industrial Average surged roughly 400 points in two days.

Geithner will first with German Finance Minister Wolfgang Schaeuble in Sylt, Germany. He'll then fly to Frankfurt for talks later in the day with Draghi.

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Friday, 27 July 2012 04:44 PM
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