US Treasury Secretary Timothy Geithner is to meet Monday with German Finance Minister Wolfgang Schaeuble and European Central Bank President Mario Draghi.
The meeting with Schaeuble is to take place on the German island
of Sylt in the afternoon, and the session with Draghi is slated for
the evening in Frankfurt, the Treasury Department said Friday.
The leaders are to discuss "the US, European and global
economies," the announcement said. No press briefings are planned
after the meetings.
German Chancellor Angela Merkel and Italian Prime Minister Mario
Monti talked by phone Sunday and pledged to do whatever it takes to
defend the eurozone.
The euro crisis accelerated this month, driving up yields on
Italian and Spanish bonds as markets doubted Madrid's resilience. The
European Central Bank suggested Thursday that it might shore up the
government bond markets of nations at the centre of the crisis.
Merkel spoke by phone Friday with French President Francois
Hollande, and they issued a similar statement.
Ongoing worry about the European debt crisis poses a major
challenge to the global economic recovery well into 2013, US and
International Monetary Fund officials have warned.
