News Column

Jacob Lew: US Has Immense Stake in Europe's Economic Health

April 8, 20913
US Treasury Secretary Jacob Lew

The US economic recovery remained "sensitive" to Europe's economic stability, US Treasury Secretary Jacob Lew said Monday on an inaugural trip to Brussels.

The US recovery was "gathering strength," Lew said, citing 14-consecutive quarters of economic expansion and 37 months of private-sector job creation.

"As we address our long-term challenges, however, our economy's strength remains sensitive to events beyond our shores, and we have an immense stake in Europe's health and stability," Lew said after a meeting with EU President Herman Van Rompuy.

Lew was particularly interested in EU plans to "strengthen sources of demand at a time of rising unemployment," he said.

Van Rompuy stressed that the European Union was working hard to restore and maintain financial stability, ensure sound public finances, fight record high unemployment and ensure long-term competitiveness and job creation.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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