Saturday, June 9, 2012

Obama Urges Europe to Act Decisively

Wall Street Journal
June 8, 2012

President Barack Obama, in his strongest language yet, urged Greece on Friday to stay in the euro zone and ratcheted up pressure on European leaders to move swiftly to bolster their banks before the continent's debt crisis worsens.

At a news conference ahead of critical European talks over the weekend, Mr. Obama said Europe's problems threaten to further weaken the U.S. economic outlook. He also repeated his call for Congress to approve his proposals for creating jobs, which so far have stalled but which the president and his re-election campaign are pushing as part of his bid for a second term.

Mr. Obama pressed euro-zone policy makers to inject capital into weak banks "as soon as possible," adding that "European leaders are in discussions about that and they're moving in the right direction."

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