U.S. Treasury Secretary Timothy Geithner said on Friday that if Europe mismanages its crisis it could slow U.S. growth but said the U.S. financial system could handle any resulting pressures.
"The U.S. financial system is in a very strong position to withstand the foreseeable pressures we might face from Europe," he said in an interview on American Public Media's Marketplace program.
Geithner said that, on balance, Europe was making headway in efforts to deal with its sovereign debt crisis.
"I think they've made a lot of progress in the last few months in trying to bring back a measure of calm to their financial markets," Geithner said.
Concern about spillover from Europe's crisis led member countries of the International Monetary Fund to agree last weekend to pledge an additional $430 billion to strengthen its war chest in case other countries are adversely affected.