White House wants stricter stress tests for European banks

06/9/2009 | Wall Street Journal, The

US Treasury Secretary Timothy Geithner is expected to discuss the stress tests of Europe's banks at meetings this week in Italy with Group of Eight finance ministers. The US' concerns echo those of the International Monetary Fund, which recently warned that troubled assets at European banks could hinder an economic recovery. "To secure recovery and a return to self-sustaining growth, policymakers need to take further decisive action, especially in the financial sector," the IMF said.

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