Geithner to meet Schaeuble and Draghi Next Week

U.S. Treasury Secretary Timothy F. Geithner will meet with German Finance Minister Wolfgang Schaeuble and European Central Bank President Mario Draghi in separate sessions on July 30.

The meeting with Schaeuble will take place on the German island of Sylt in the afternoon of July 30, and the session with Draghi will be held that evening in Frankfurt, the Treasury Department said in a statement today.

The Treasury said the meetings will be closed to the press, with a photo opportunity before the Schaeuble meeting. A Treasury official with knowledge of the matter said that Geithner and Schaeuble won’t hold a news conference after the meeting.

European stocks rose for an eighth week as German Chancellor Angela Merkel and French President Francois Hollande joined Draghi in promising to do everything to protect the euro.

“France and Germany are fundamentally attached to the integrity of the euro zone,” Merkel and Hollande said in a joint statement today. “They are determined to do everything to protect it.”

The leaders of the euro area’s two biggest economies issued their statement a day after Draghi said that the central bank will act to preserve the euro.

Bloomberg

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell