The Greek Effect on US economy
Posted by Stephen Cline on May 19th, 2010The treasury Secretary of State Mr. Timothy F. Geithner has assured the United States Government that the European Managing Crisis will not affect the U.S. economy and it is effectively stiff to withstand any fall out.
The trust that is shown by the treasury secretary on the effective management of the European turmoil is very reassuring. The belief that the strength, improvement and confidence shown by the U.S. economy in the last year is more than capable of withstanding the effect of the political and economic ripple caused on its sister continent.
He assured the European governments of helping them manage through these difficult economic times in a sensible yet effective way and stand by them through supporting the international Monetary fund in which it has a 17 percent stake. His and his associates have shown a lot of concern and are very confident of a solution to bring these markets out of the dark.
The two issues of importance that Geithner skirted out are the huge amounts that the U.S. banks hold as sovereign debt in European nations and the potential problem of losing a large market such as Europe for trading goods produced by the American companies.