June 19th, 2012
06:58 PM ET
Los Cabos, Mexico (CNN) - European leaders at the G-20 Summit discussed their desire for a "fiscal union" that will support their banks, U.S. Treasury Secretary Timothy Geithner said Tuesday.
Geithner said European leaders, meeting again late next week, want to design a long-term framework for stability and take immediate steps to back financial systems.
"What this means is a framework of reforms so they can stand behind their banks, provide capital to the banks that need it, make sure they're protecting the safety of their depositors," Geithner said.
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