Sunday, May 9, 2010

Biden urges 'resolute European action' to halt financial crisis

Washington PostMay 9, 2010

With the European debt crisis putting the fragile global economic recovery at risk, Vice President Biden met Saturday with Spanish Prime Minister José Luis Rodríguez Zapatero and tried to walk a delicate line of encouraging a more forceful and unified response without appearing like a heavy-handed intruder into the continent's affairs.

"We agreed on the importance of resolute European action to strengthen the European economy and to build confidence in the markets, and I conveyed the support of the United States of America for those efforts," Biden said on the steps of Madrid's Moncloa Palaceafter a 40-minute meeting. About half the meeting was spent discussing economic matters, particularly the crisis that began with debt problems in Greece and now threatens Spain and other nations.

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