Europe should step up debt crisis efforts: Geithner

US Treasury Secretary Timothy Geithner on Monday urged European Union leaders to step up efforts to contain contagion from debt troubles in certain eurozone countries. "What Europe obviously needs to do is to work more forcefully to contain the risk of an escalating crisis in Europe," Geithner said in an interview with business television network CNBC.
EU leaders have taken a number of steps in the last two weeks "in that direction," he said, referring to action to avert a Greek debt default and stress tests on European banks, whose results were released Friday. "Those things are all constructive, but the world needs to see the European leaders move now... to put in place those additional changes that would help contain the risk of a broader crisis," the Treasury secretary said. "They have the capacity to manage this in a way that doesn't add to the broader burdens in the global economy, and of course we want them to do that."