25 Apr 2010

US urges speedy action on Greece

6:01 am on 25 April 2010

US Treasury Secretary Timothy Geithner has called on the IMF, the EU and the Greek government to act quickly to tackle Greece's debt crisis.

Mr Geithner asked the IMF and Eurozone countries to put together a package of strong reforms and financial support.

On Friday, Greece asked for an EU-IMF bailout of its debt-ridden economy.

Mr Geithner was speaking after talks with IMF and European officials at a meeting of the International Monetary Fund in Washington.

He also had talks with Greek Finance Minister George Papaconstantinou, IMF Managing Director Dominique Strauss-Kahn and several EU officials.

Afterwards, a statement from his office said Mr Geithner encouraged them to move quickly to get a package of strong reforms and substantial concrete financial support in place.

The BBC reports consideration of Greece's request for emergency loans totalling 40 billion euros ($US53 billion) was set to be a major focus of the talks.

On Friday, Greece asked the IMF and European governments for financial help.

Nations using the euro would contribute 30 billion euros with the rest coming from the IMF.

The funds are needed in May when a large tranche of Greece's debt comes due for renewal.