Meetings on European Debt Crisis End in Debate, but Little Progress

This story's interesting beyond the financial crisis itself. Europeans snubbed Tim Geithner, but why? They think he's a clown? They think the Obama administration's a joke? Or America's weakened structurally, and it wouldn't have mattered who was Treasury Secretary?

See New York Times:

WROCLAW, Poland — European finance ministers ended a two-day meeting here Saturday without making substantial progress toward solving the region’s debt crisis, or any pledge to recapitalize Europe’s banks.

The meetings were highlighted by the appearance by Timothy F. Geithner, the United States treasury secretary, whose advice, and warnings, drew a tepid reaction from the euro zone’s finance ministers. And Mr. Geithner’s rejection Friday of a European idea for a global tax on financial transactions prompted a debate about whether Europe should go ahead on its own.

Meanwhile, with an October deadline looming for international lenders to agree to the release of around 8 billion euros, or $11 billion, of aid to Greece, without which it could default on its debt, George Papandreou, the Greek prime minister, canceled a trip to the United States.

“The coming week is particularly critical for the implementation of the July 21 decisions in the euro area and the initiatives which the country must undertake,” Mr. Papandreou said in a statement on Saturday.

The attendance of an American official at Friday’s meeting was unusual, and Jacek Rostowski, the finance minister of Poland who invited Mr. Geithner, said it showed “unity within the transatlantic family.”

That glossed over the grumbling about Mr. Geithner’s comments from several European ministers Friday, including Maria Fekter of Austria, who publicly said she was unimpressed with Mr. Geithner’s contribution.

Yet the American plea for urgent decisions to shore up the euro zone was echoed Saturday by two European ministers whose nations have stayed outside the single currency.