Tim Geithner was polite enough to say that, given the economic problems back home, the US Treasury Secretary was notnecessarily in the best position to offer Europe advice on how to get out of its mess. Still, Mr Geithner must have wondered why he had bothered with a 6,000-mile round trip, given the Europeans' obvious distaste for any of his ideas.
No, they said, to an expansion of the European Financial Stability Fund, whether directly or through leverage. No, they said, to stimulating European economies with more expansionist fiscal policy. And no, they said, to Mr Geithner's contention that a new tax on banks would not work.
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