Geithner: European Debt Crisis Won't Derail U.S. Recovery

WASHINGTON -- Treasury Secretary Timothy Geithner says he doesn't think that the European debt crisis will derail the U.S. economic recovery and he is praising the steps Europe is taking to deal with the crisis.

In an interview with CNBC, Geithner says that because of the momentum the economy has built up over the past several months, the United States is in a strong position to weather the global turmoil caused by Europe's debt problems.

He says it is important for Europe to move quickly to put in place the support programs needed to bolster Greece and other European countries with heavy debt burdens.