Geithner: EU should make bailout fund more effective

US Treasury Secretary Timothy Geithner has created waves at a meeting of EU Finance Ministers by urging them to leverage the EU bailout fund to better tackle the debt crisis.

In a 30-minute address to the gathering in Poland, Geithner pressed for the €440bn European Financial Stability Facility to be made more effective to give it greater capacity to combat the problems in Ireland, Greece, Portugal and Italy.