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  • Geithner in Istanbul: Reform, Fiscal Stimulus Must Continue or Recovery Will be Halted

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  • Geithner in Istanbul: Reform, Fiscal Stimulus Must Continue or Recovery Will be Halted

    Treasury Secretary Timothy Geithner joined other G7 finance leaders in Istanbul to tell members of The Institute of International Finance --representing many of the world's largest bank--that reform is a necessary component of recovery, and to expect "sweeping changes," according to a Reuters report . Reuters quotes Geithner as telling bankers, "We're not going to adopt an approach that does stuff at the margin, and delays any changes that help preserve a bunch of practices that helped make this crisis much more damaging than it otherwise would have been." Geithner also stressed the need to continue fiscal stimulus, as The Wall Street Journal's Andy Jordan and Bob Davis report below:
    Published 10-05-2009 9:12 AM by Graham Griffith
    Filed under: finance, fiscal policy, fiscal stimulus, timothy geithner, bankers, global banking regulation, reform, The Institute of International Finance
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