US's Geithner warns Europe crisis a global threat

Speaking at the Washington Ideas Forum in the downtown Newseum, Geithner mixed praise and criticism of Europe as he continued an ongoing effort to push its policymakers toward a more forceful approach toward dealing with debt woes.

"Europe matters a lot to us. We don't want to see Europe weakened by a protracted crisis. Europe understands that," he said but left no doubt at his impatience with progress so far.

"They are moving too slowly," Geithner said. "Europe is a large part of the global economy, and a severe crisis in Europe would be damaging" around the world.

He sidestepped a question about how close the U.S. economy might be sliding back into recession, however.

Asked whether he agreed with Federal Reserve Chairman Ben Bernanke that U.S. growth was close to faltering, Geithner said that growth is "slower, weaker" in the United States and around the world than hoped at the start of the year.