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Geithner: No doubts Europe can stem crisis (XEU) *PIC*

Geithner: No doubts Europe can stem crisis (by Greg Robb)

WASHINGTON (MarketWatch) - Treasury Secretary Timothy Geithner said Wednesday that he has "no doubt" Europe Union governments have the capacity to keep its financial crisis from spreading. "It is my view that they have made a decision that they will do whatever is necessary to prevent this crisis from escalating beyond the countries that were initially the focus of so much pressure," Geithner said. "There is no doubt that they have the ability to do that financially and economically," he said. Geithner said he spends a lot of time talking with his European colleagues about ways to "get ahead" of events. European leaders are now engaged in the "politically complicated discussion" of how best to keep the crisis from spreading. "They are eager not to repeat" last spring's financial turmoil, Geithner said in an answer to a question following a speech at the Johns Hopkins School of Advanced International Studies.