By Simon Miller
The US Treasury secretary has reiterated that the States would not be putting more money into the International Monetary Fund.
Speaking at a House Committee, Treasury secretary Tim Geithner told congressmen that it was in the interest of the United States that the IMF continued to be able to play a constructive role in Europe.
"IMF resources cannot substitute for a strong and credible European firewall and response, but they can help supplement the resources Europe mobilized on its own," he said.
Geithner pointed out that the IMF had substantial financial resources available and the ability to mobilise temporary resources if that were necessary to help contain the damage from a further intensification of the crisis in Europe.
He continued: "For these reasons, we have no intention to seek additional US resources for the IMF. The IMF has played a critical role in every major post-war financial crisis, while consistently returning to the United States and other IMF members any resources – with interest – that it has temporarily drawn upon."