Last Update 20:53
Thursday, 14 November 2019

Obama: Europe leaders know of need to act on Eurozone crisis

AFP , Friday 8 Jun 2012
Obama
President Barack Obama talks about the economy in the briefing room of the White House in Washington, Friday,8 June, 2012. (Photo: AP)
Share/Bookmark
Views: 651
Share/Bookmark
Views: 651

President Barack Obama said Friday that Europe's leaders "understand the urgent need to act" to solve the eurozone crisis, as a rescue plan for Spain's banks appeared in the works.

"The leaders understand the seriousness of the situation and the urgent need to act," Obama told reporters.

"The decisions required are tough but Europe has the capacity to make them... And the sooner that they act and the more decisive and concrete their actions the sooner people and markets will regain some confidence and the cheaper the costs of clean up will be down the road."

But he also warned Greeks that taking the road out of the eurozone after their June 17 elections would only make things worse for them.

"We recognize the sacrifices that the Greek people have made, and European leaders understand the need to provide support if the Greek people choose to remain in the eurozone," Obama said.

"But the Greek people also need to recognize that their hardships will likely be worse if they choose to exit from the eurozone."

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.