September 18, 2011

Europe hit back Saturday at US lecturing on its public finances, insisting the eurozone is better off than global rivals as talks on the debt crisis drew to a close.

The defiant stand came as finance ministers wrapped up two days of talks in Poland that delayed a decision on blocked loans for Greece, failed to resolve a row with Finland which wants collateral and stirred a fruitless debate about introducing a financial transactions tax.

“Taken as a whole, it is probably better than other major advanced economies,” European Central Bank chief Jean-Claude Trichet said of the 17-nation eurozone’s debt record as the ministers and central bankers from the 27-state European Union headed for the exit.

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