Geithner sounds alarm on Europe

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By Ben Rooney September 24, 2011: 11:09 AM ET U.S. Treasury Secretary Tim Geithner said European leaders need to do more to prevent financial chaos in Europe. NEW YORK (CNNMoney) — The Treasury Secretary says the euro area sovereign debt and banking crisis are the biggest threat to the global economy and European leaders need to do more to resolve those issues, quickly. U.S. Treasury Secretary Tim Geithner warned Saturday that the sovereign debt and banking crisis in Europe represents "the most serious risk now confronting the world economy." In an official statement to the International Monetary Fund, Geithner also discussed the need to both support the U.S. economy in the short…

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