Europe to Geithner: Don't you have a plane to catch?

[marmar]

(Bloomberg) European finance ministers ruled out efforts to spur the faltering economy and showed no signs of taking up a proposal by U.S. Treasury Secretary Timothy Geithner to increase the firepower of the debt crisis rescue fund.

Inviting Geithner to a euro meeting for the first time, the European finance chiefs said the 18-month debt crisis leaves no room for tax cuts or extra spending to spur an economy on the brink of stagnation.

“We have slightly different views from time to time with our U.S. colleagues when it comes to fiscal-stimulus packages,” Luxembourg Prime Minister Jean-Claude Juncker told reporters after chairing the meeting yesterday in Wroclaw, Poland. “We don’t see any room for maneuver in the euro area which could allow us to launch new fiscal stimulus packages. That will not be possible.”

Europe’s economy will barely grow in the second half of 2011, a casualty of the debt buildup that 256 billion euros ($353 billion) in aid for Greece, Ireland and Portugal has failed to extinguish. ...........(more)

The complete piece is at: http://www.bloomberg.com/news/2011-09-16/europe-rules-out-stimulus-offers-no-bank-aid-at-geithner-parley.html

[Donnachaidh]

1. ooohhh, them darned foreigners gave Timmeh the boot!

Good.

Someone needs to slap that little shit around and show him he's NOT as big as he thinks he is.

[Lionessa]

2. Yeah, I was wondering who we thought we were sending our guy there to act

the part of an expert adviser when our economy is about to double dip and has otherwise been stagnant or declining for what, over a decade? Our arrogance never ceases to amaze me.

[Name removed]

3. Deleted message

Message removed by moderator. Click here to review the message board rules.

[lonestarnot]

4. meh, bullshit.

[marmar]

5. Yeah, 'cause Geithner so has things under control on his side of the ocean.

To call your post daft would be quite charitable.

[Chan790]

6. I agree.

Europe, like the US, desperately needs a round of Keynesian stimulus to put people back to work and reignite demand.

If they won't save themselves, they deserve to drown...unfortunately our metaphorical ankles are tied to theirs.

[msongs]

7. wall street stooge is having his way in Washington, Europe doesn't want him nt

[Vincardog]

8. Idiotic fiscal conservatives the world over are intent on cutting their way to OUR complete destruct

[Sarah Ibarruri]

9. Why is this guy over there telling them what to do? This place is f*cked up enough. nt

[BzaDem]

10. And then they wonder why their economy is cratering and on the brink of a meltdown.

There are a lot of things they could attack Geithner for. Being in favor of fiscal stimulus is not one of them. Europe is embracing Austrian gold-buggery gilded-age monetary and fiscal policy at the precise moment that requires the exact opposite just to avoid collapse. It is really quite amazing.

[marmar]

11. "And then they wonder why their economy is cratering and on the brink of a meltdown"

And America's isn't?

[bluestate10]

14. Europe is gutless. I guess some MOD will delete this post also.

The continent does not have the will to solve it's big debt problem collectively. The continent has never had the collective will to solve any problem there during the last century and a half.

[midnight]

12. K&R

[RB TexLa]

13. He can just tell them to do it the American way steal it from people that haven't been born.

[jwirr]

15. Why should they listen to any adviser from a country that started this

mess?

[JoeyT]

16. No he does not have a plane to catch.

We sent him for a reason. Y'all keep him. We don't want him back.