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WASHINGTON (AP) Treasury Secretary Timothy Geithner (GYT'-nur) says Europe needs to be creative in fighting its debt crisis. Geithner says Europe's success will depend on the ability of its governments and central bank to creatively and aggressively support countries that are pursuing the necessary reforms to get a handle on their debt problems. Geithner also tells the International Monetary Fund's policy committee that the U.S. welcomes the currency changes that China announced a week ago. But he says Beijing needs to do more to allow its currency to rise in value against the U.S. dollar. U.S. manufacturers believe China enjoys unfair trade advantages from an undervalued currency. Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ. An insider's guide to politics and policy, available on the iPad or as a PDF download,tomsoutletsalecheap.com.
By DAVID KOENIG and JOSHUA FREED, Associated Press DALLAS (AP) US Airways made a bold move toward a merger with American Airlines on Friday. It'll either catapult a combined company to the top of the airline heap or further complicate American's already-messy bankruptcy reorganization. US Airways made an end run around its larger rival and secured the support of American's three labor unions in its bid to force a merger. The unions were angry with American over its plan to cut jobs and squeeze labor costs while under bankruptcy court protection. They think they can get kinder treatment from US Airways. Executives at American's parent,toms shoes sale, AMR Corp., still control the bankruptcy process. But AMR's grip on its own future just got a little weaker. All sides have their reasons for what they did Friday: The unions want leverage to fight back against American's plan to break their labor contracts. A hearing on the issue starts Monday. US Airways, which has been overlooked in other airline mergers, desperately wants to find a partner that will make it much bigger and more competitive. AMR wants to avoid outside interference as it tries to use the bankruptcy process to reduce debt and cut labor costs. US Airways' gambit could take months to play out, and the nation's fifth-biggest airline has not yet made a formal bid for AMR. But the timing raised eyebrows. The unions announced their support for the US Airways bid just three days before American was scheduled to begin making its case in court that its viability depends on breaking labor contracts with nearly 55,000 pilots, flight attendants and ground workers. AMR filed for bankruptcy protection in November and has been negotiating for concessions from the unions since February but made little progress. The outcome of this high-stakes fight could reshape the U,toms shoes.S. airline industry. A merger would produce an airline roughly equal to United Continental Hol Related articles:

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