Financial Times
June 8, 2011
Barack Obama, the US president, weighed into Europe’s debate about whether to restructure Greek debt on Tuesday saying it would be “disastrous” for the US if the crisis led to “an uncontrolled spiral and default in Europe”.
Mr Obama was speaking at the White House alongside Angela Merkel, the German chancellor, who is under intense pressure at home to ensure that private sector creditors contribute to a second rescue of Greece.
“America’s economic growth depends on a sensible resolution of this issue,” Mr Obama said. “It would be disastrous for us to see an uncontrolled spiral and default in Europe, because that could trigger a whole range of other events.”
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