Reuters: US Dollar Report: US Treasury Sec calls for action from EU leaders - Bloomberg TV

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US Treasury Sec calls for action from EU leaders - Bloomberg TV Aug 1st 2012, 05:08 Wed Aug 1, 2012 1:08am EDT Aug 1 (Reuters) - United States Treasury Secretary Timothy Geithner called on European leaders to do more to solve the region's debt crisis, including lowering interest rates for those countries that are undertaking painful reforms. Interviewed on Bloomberg Television in Los Angeles on Tuesday, Geithner said the euro zone had to take steps including "bringing down interest rates in the countries that are reforming and making sure those banking systems can provide the credit those economies need." Geithner was speaking a day after returning from Germany, where he held meetings with German Finance Minister Wolfgang Schaeuble and with European Central Bank President Mario Draghi. Draghi last week said that the central bank would do whatever it takes to preserve the euro. Geithner also said there was more Congress could do to bolster growth in the United States. "There's a lot of things Congress can do, in the near term, not just in the long run, to make growth stronger," he said.

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