Treasury Department Assistant Secretary for International Finance Charles Collyns pointed to the “strong cooperation between the United States and its European partners including in the context of the G-20” as having “played a key role in reversing the worst economic downturn since the Great Depression” in remarks to the Bruegel Institute in Brussels. According to Collyns, “much has already been accomplished by working together, and I am confident that this close cooperation will continue as we address the pending challenges.”
He cited five key areas where the United States and Europe will need to work closely together:
1. Restoring balance to global growth is a key priority;
2. Ensuring a credible path to fiscal sustainability over the longer term must be a key priority;
3.Structural reform, such as health care reform or investments in insfrastructure as part of the solution;
4. Remaining focused on completing the agenda for financial regulatory reform; and
5. Continuing to work in the multilateral arena to nurture the global recovery and to address imbalances.