EU Working with US to Head Off Another Freeze of Financial Markets Due to Crisis in Greece

May 21, 2010 /EIN Presswire/ -- Financial markets could once again "freeze up" as they did in 2008 as a result of the turmoil created by the fiscal crisis in Greece, a US Federal Reserve official has testified to Congress.

Daniel K. Tarullo, President Obama's first appointment to the Federal Reserve's Board of Governors, said the US is working closely with the European Central Bank and four other central banks to minimize risks.

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