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Euro zone must take 'decisive' measures: Obama

Published on Jul 31, 2012 10:47 AM
 

NEW YORK (AFP) - United States (US) President Barack Obama said on Monday that the euro zone is not buckling under the weight of the debt crisis, but that "decisive steps" have yet to be taken.

Speaking at an event for campaign donors, the Democratic incumbent in the November 6 presidential election noted that the US economy is still unsteady, and warned of "some continued headwinds over the next several months."

"Europe is still a challenge, and a lot of people in this room who have business in Europe understand that," he said to some 60 people, including Wall Street executives."I don't think ultimately that the Europeans will let the euro unravel. But they're going to have to take some decisive steps. And I'm spending an enormous amount of time trying to work with them to recognise that the sooner they take some decisive action, the better off we're going to be."

Mr Obama spoke of the US's own "decisive action," referring to the $800 billion (S$997 billion) stimulus package his administration pushed for in 2009.

 
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