U.S. demands action from Europe's strongest at G7

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http://uk.reuters.com/article/2011/09/09/uk-g-idUKTRE7882O520110909

(Reuters) - The United States pressed Europe's strongest economies Friday to give "unequivocal" financial support to weaker euro zone states to overcome a debt crisis that threatens the world economy.

"It is completely within the capacity of the stronger members of the euro area to absorb these costs," U.S. Treasury Secretary Timothy Geithner said as G7 finance chiefs gathered in Marseille to discuss how to revive a stalling recovery.

"Those costs would be much, much greater for them and their economies if they sit here and do nothing, and they recognise that," Geithner told Bloomberg Television in comments that appeared aimed primarily at EU economic powerhouse Germany.

With markets looking to the Group of Seven major industrial economies for some sign of a policy shift to help faltering growth, a G7 source said the meeting might after all issue a communique, which G7 chair France had said was not planned.