Geithner: Global action needed to combat recession
ByABC News
March 11, 2009, 3:46 PM
WASHINGTON -- Treasury Secretary Timothy Geithner said Wednesday that the global recession is deepening and urged strong actions by all major nations to combat the downturn.
Geithner said the Obama administration believes it is essential for other major countries to commit to substantial and sustained efforts to bolster their economies.
His comments highlighted a growing rift with European nations who are balking at the administration's call for increased stimulus efforts. European officials argue they do not want to pile up more debt to fight the downturn.
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