WASHINGTON Dec 12 U.S. Treasury Secretary Jack
Lew said on Thursday the euro area's prolonged recession
appeared to be ending although policymakers in the region can do
more to boost employment.
"Having made significant progress on achieving financial
stability, Europe is now in a position to place greater priority
on boosting demand and employment," Lew said in remarks prepared
for a congressional hearing.
The euro zone emerged from recession in the second quarter
but growth almost ground to a halt again in the third, and the
outlook is clouded by record-high unemployment and weak consumer
and business confidence.
The bloc's weakest members continue to struggle with
crushing debt burdens, and Lew urged lawmakers to approve new
quota reforms at the International Monetary Fund, which has lent
money to several European countries to counter a financial
crisis in the region.