- Need to make further progress in cutting budget deficits
- We’re alot closer to each other in fighting defcits
- Need to find rules that are applicable worldwide
- Learned alot from Geithner and we’ve made good progress
- Despite different structures of our financial systems we can work better for joint solutions
US Treasury Secretary Geithner:
- Praises leadership role played by Germany in reforms
- U.S. and Germany share common interest in working closely together to reinforce global recovery
- U.S. completely committed to moving forward on cooperative global approach
- Need stable financial system but with room for innovation
- Want to maintain commitment to cooperate in confronting global crisis
- Important to recognise U.S. and Europe are in broad agreement on importance of putting in place more conservative restraints on risk taking
- We have slightly different approaches
- We’re in very good position to reach a global agreement on global framework
- Doesn’t think we’ll know what seperates us yet until we get to next stage on international capital framework
That’s quite enough of all that. Think we get the picture.