Geithner supports Franco-German plans to battle crisis:

12/6/2011 | Reuters

US Treasury Secretary Timothy Geithner said he backs plans proposed by France and Germany to resolve Europe's sovereign-debt crisis. French President Nicolas Sarkozy and German Chancellor Angela Merkel called for mandatory penalties on countries that fail to adhere to deficit targets. Geithner also said any solution should include a significant role for the European Central Bank.

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