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Geithner Says He is Sure the EU Will Boost the Bailout Funds For the Sovereign Debt Crisis

“They recognize that if you let, as the United States did in the early part of 2008, the momentum of these concerns build, they’re very hard to arrest, much more expensive to arrest,” Geithner said.

“So you’re going to see them act with more force in the coming weeks and months,” he said.

“I am very confident they’re going to move in the direction of expanding the effective financial capacity of that set of financial ring fences because they have no alternative and they recognize that and they’re going to do it,” Geithner said.

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