U.S., Germany confident on euro zone reforms: statement

MUNKMARSCH, Germany (Reuters) - Treasury Secretary Timothy Geithner and German Finance Minister Wolfgang Schaeuble expressed confidence on Monday in the ability of euro zone member states to implement reforms and achieve greater integration to overcome their debt crisis.

In a statement issued after talks on the German North Sea island of Sylt, where Schaeuble is holidaying, the two men commended the efforts of Ireland and Portugal to put their public finances on a more stable basis and also cited recent structural reforms by Spain and Italy.

"(The two men) emphasized the need for ongoing international cooperation and coordination to achieve sustainable public finances, reduce global macroeconomic imbalances, and restore growth," the statement also said.

(Reporting by Gernot Heller, writing by Gareth Jones)

Source: http://news.yahoo.com/u-germany-confident-euro-zone-reforms-statement-150234438--business.html

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