Geithner urges Europe to employ financial creativity in combatting its prolonged debt crisis

WASHINGTON – U.S. Treasury Secretary Timothy Geithner says Europe needs to be creative in fighting its debt crisis.

Geithner says Europe’s success will depend on the ability of its governments and central bank to creatively and aggressively support countries that are pursuing the necessary reforms to get a handle on their debt problems.

Geithner also told the International Monetary Fund’s policy committee on Saturday that the U.S. welcomes the currency changes that China announced a week ago.

But he says Beijing needs to do more to allow its currency to rise in value against the U.S. dollar.

U.S. manufacturers believe China enjoys unfair trade advantages from an undervalued currency.