US encouraged by Europes plan to stem crisis

President Obama said he and Russian President Vladimir Putin agreed on the need for a political process in Syria to prevent civil war in the violence-torn country and said any tensions between the U.S. and Russia can be eased. (June 18)

LOS CABOS, Mexico (AP) ? Treasury Secretary Timothy Geithner says the U.S. is "encouraged" by plans by European leaders to confront the continents economic crisis by focusing on strengthening economic growth.

Geithner says on the sidelines of the Group of 20 summit in Mexico that European leaders are trying to design an economic framework to strengthen Europes financial system and help countries like Spain and Italy borrow at "sustainable interest rates."

The Treasury secretary says the nations want to ensure that Greece is reforming within the European Union.

European leaders plan to release a more detailed response to the continents financial crisis in Brussels during a summit at the end of June.