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Obama: European Debt Crisis shouldn’t Threaten Global Economy

Obama on Euro zone debt crisisU.S. President Barack Obama made a call to prevent the debt crisis in European zone countries from threatening the global economy.

The global economy should not be put at risk, with the debt crisis affecting Greece, Ireland and Portugal, said Obama during a joint press conference with German Chancellor Angela Merkel.

According to the president, under the leadership of Germany and other key actors in Europe, Greece will grow again, but he urged patience. US President Obama stressed the importance of German “leadership” on the issue, a hint that he expects Berlin to help, while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state, especially Greece in that case.

Obama, Merkel take initiative at solving euro zone debt problems

German Chancellor Angela Merkel stated that Berlin wants to show solidarity with its partners affected by the debt crisis in Europe, but she also firmly suggests that “it is significant to raise our competitiveness level”.

On another issue, Obama stated that the pressure against the Libyan leader, Muammar Gaddafi, will increase until he is forced to exit presidency.

Greece is heavily hit by the debt crisis and on the verge of bankruptcy.

 

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