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FBN’s Ashley Webster on Geithner’s visit with the ECB President and what they can do to stimulate the economy.
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-- -- as we mentioned Treasury Secretary Tim Geithner is in Germany meeting with the president of the European Central Bank.
After meeting with Germany's finance minister earlier today now these meetings does d.s before the Central Bank is scheduled to make its latest policy decision.
My co anchor asked the Webster ripped -- his company counts on Saturday afternoon a flat at Frankfurt Germany has the latest NORAD -- what's gone on.
He also all right Tracy well mr.
Geithner as we say it is meeting -- -- Mario Draghi right now.
He is the president of the ECB in the building behind me obviously mister Geithner is gonna say look.
You guys are gonna get your act together you being a real drag on the global economy and especially for the US economy is not something that escorted something that the eurozone knows.
And exactly how well received that advice will be well.
Will it remains to be seen but certainly the ECB last week -- last Thursday announcing that.
You know -- we're gonna do whatever it takes to preserve -- -- hero.
That gave a huge boost to the markets as we know the Dow gaining close to 400 points in just a last Friday.
And Thursday's session but the question is what can the ECB do.
Well they could expand the -- buying program again they could cut the interest rates although the impact on that will probably slight to negligible.
They could also continue to offer cheap money to banks but unfortunately in Europe via the banks here just -- pouncing on those savings.
Two businesses and consumers but certainly the markets expect something.
And with the announcement from the ECB in the fact the Timothy Geithner is here I think there's a belief that there's some sort of behind the scenes coordinated effort in the works.
But it ECB doesn't come up with something spectacular the so called shock could all the bazooka on Thursday there's a good chance that they'll be able to downward pressure on the markets.
Us out of Germany -- all about this -- the biggest star engine in the whole of the eurozone.
We took to the streets and talk to some of the people of Frankfurt today to give their opinion on Germany's role in the Euro zone.
Snow has -- made so many investments.
And -- roll why not should get on to for at least for now.
Because -- -- -- -- good -- Germany has.
Who received several good things ought to lift it Germany's benefiting -- -- from from the earth song.
The exports a very important and and in the low Euro our assistance this really important for Germany right -- the export industries so.
So so there is there's -- Citi.
It's a balance really.
It is a balance tonight it has a number of people I spoke to Tracy is said there -- -- would you trade the Euro for the deutschemark and they said absolutely.
There is that balance between helping their neighbors but not being exploited.
And certainly there's such a sense of Germany is gonna shoulder -- the burden.
He'll be itching to see whether Germany goes along with what the ECB wants to do.
And though of course we'll find out on Thursday what those plans will be but as a -- before the markets think that something big is around the corner.
But we've been disappointed so many times is the eurozone tries to tackle this debt crisis Tracy back to you that we have -- CNN.
