Barack Obama says the US would support EU solutions to solve debt crisis
US President Barack Obama says European leaders must make difficult decisions to steer the eurozone away from crisis.
Speaking at the White House, Barack Obama said the US would support Europe implement the hard solutions needed to solve the ongoing debt crisis.
He said a deep new recession in Europe would have an impact on the US economy.
Greece’s future in the eurozone was a matter for the Greek people, he said, but “further hardship” must be expected if it choose to leave the euro.
Outlining a series of “specific steps” Europe needed to take to ensure stability within the eurozone, the president was at pains to say he would not “scold” Europe.
Barack Obama said European leaders needed to stabilize the continent’s financial system and inject capital into weak banks “as soon as possible”.
“The solutions are hard, but there are solutions,” Barack Obama said, saying the US was offering advice, but that “these decisions are fundamentally in the hands of Europe’s leaders”.
Barack Obama also reprised his calls for the US Congress to pass the remaining parts of his own jobs plan, in order to strengthen the US economy against possible shocks from Europe.
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