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U.S. Deputy Treasury Secretary Neal Wolin said Europe needs to take actions to match its words that it will do what it takes to preserve the euro.
“I think it’s important for the markets to hear that and have confidence,” Wolin said on CNBC. ”Of course beyond the words there needs to be actions.”
European Central Bank President Mario Draghi signaled today that officials are prepared to do whatever is needed to preserve the euro and act on surging bond yields that are tearing at the seams of the 17-nation currency bloc.
”If they have the will and capacity they need to take those steps to continue on the path,” Wolin said. ”This is in the end something the Europeans are going to have to come around but I think they’ll do it in the end.”
To contact the reporters on this story: Cheyenne Hopkins in Baltimore at Chopkins19@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz at firstname.lastname@example.org