Geithner: much too early

Tim Geithner is breathing a little easier. The US Treasury secretary said at a press briefing on Tuesday that “the force of the global storm is receding a bit”. He wants to use the Friday meeting of G8 finance ministers in Lecce, Italy to “take stock” of what has been done. That sounds much less stressful than staving off a credit collapse – the main agenda item as recently as three months ago. A quick look at the financial markets is enough to prove Geithner right. Equities are up, credit spre...