US sees no recovery, 'too early' to cut stimulus

By AFP

July 15, 2010 Updated Jun 14, 2009 at 9:41 PM CDT

Top global economies should not look to cut their economic stimulus plans to fight the crisis as there is no recovery yet, US Treasury Secretary Timothy Geithner said on Saturday.

"I don't think we're at the point yet where we can say we have a recovery in place," Geithner said following two days of talks between the G8 finance ministers in Lecce in southern Italy.

"It's too early to shift towards policy restraint," he added amid calls from countries like Germany for global powers to start reducing huge deficits and spending approved during the economic crisis.

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