Arab Today, arab today obama calls on europe to resolve debt problems
Last Updated : GMT 03:47:34
Arab Today, arab today
Arab Today, arab today

Obama calls on Europe to resolve debt problems

Arab Today, arab today

Arab Today, arab today Obama calls on Europe to resolve debt problems

Washington - DW

With both the American and European economies in a fragile state, US President Barack Obama has warned that their economies would continue to be at risk until European leaders work together to solve their debt problems.In a rare public expression of criticism aimed at America's transatlantic allies, US President Barack Obama has called on European leaders to develop a "more effective set of coordinated policies" to deal with the continent's sovereign debt crisis."Right now you have a single currency, but you don't have a single set of economic policies, and that's created great difficulty," Obama said in reference to the eurozone. "It's difficult to coordinate when you have that many countries with different politics and different economic situations trying to agree on a common course."Speaking to a group of Hispanic journalists at the White House on Monday, Obama said Greece was "obviously the biggest immediate problem" and that the government there was "taking some steps to slow the crisis but not solve the crisis."The bigger problem is what happens in Spain and Italy if the markets keep on making a run at those very big countries," he added, saying Washington was "deeply engaged" with European nations on how to solve the eurozone crisis.US Treasury Secretary Timothy Geithner, meanwhile, plans to attend a meeting of eurozone finance ministers later in the week. Geithner just returned to the US from Marseilles, France, where he called on Europe's largest economies to offer "unequivocal" financial support for weaker economies such as Greece.It would be the first time in history that a US treasury secretary has attended a meeting of eurozone finance ministers, highlighting the concern Washington has over Europe's handling of the sovereign debt crisis.US stocks, meanwhile, closed higher on Monday after recovering from a short dip of 1 percent earlier in the day. These gains led to positive numbers in Asian markets, with the euro edged up from a seven-month low on Tuesday.World markets and the euro made slight gains on Tuesday as confidence was bolstered by the late rally in the United States, while news of possible financial support for Italy from China did little to ease fears that the eurozone was on the brink of disaster.A report by the Financial Times said Italy, whose mammoth debt has investors worried it may eventually need a bailout like Greece, Ireland and Portugal, had asked China to make "significant" purchases of Italian bonds.The possibility of support from China would be good news for Italy, which has seen borrowing costs skyrocket in recent months. But the biggest problem in the eurozone remains Greece, which said it would run out of cash next month without the next installment of bailout funding from the European Union and the International Monetary Fund.European stock markets tumbled Monday after German politicians talked openly of the possibility of Greece defaulting on its debt and leaving the eurozone. As trading ended Germany's DAX was still down over 2 percent - following a disastrous showing last Friday, and a distinct downward trend in Frankfurt over the past six weeks.Greece has resumed talks with international lenders to receive its next 8-billion-euro ($11 billion) installment of aid in order to avert a default on its debt as the national government in Athens runs dangerously low on cash.  Talks had been suspended over criticism that Greece had not been taking strong enough measures to restructure its economy and reduce public deficits in exchange for the bailout money. Athens approved a new real estate tax on Sunday to try to shore up its budget.Greece's second bailout of nearly 110 billion euros, approved during a eurozone crisis summit in July, has run into difficulty as governments in northern Europe become increasingly skeptical of Athens' seriousness in tackling its economic problems.Finland has demanded collateral from Greece in exchange for its contribution to the bailout. Germany's Christian Social Union, the sister party of Chancellor Angela Merkel's conservative Christian Democrats, has publicly floated the possibility that Greece could leave the eurozone.Germany's Economy Minister Philipp Rösler, meanwhile, wrote in a Monday editorial in the daily Die Welt that the eurozone would have to remain open to the possibility of a "worst-case scenario orderly default for Greece."

arabstoday
arabstoday

GMT 03:20 2017 Thursday ,21 September

Venezuela extends state of economic emergency

GMT 13:55 2017 Wednesday ,20 September

Humble bicycle back in vogue in Cuba

GMT 13:19 2017 Wednesday ,20 September

European equities waver before Fed decision

GMT 12:57 2017 Wednesday ,20 September

UK retail sales surge in August, raises interest rate

GMT 11:03 2017 Wednesday ,20 September

US CEOs optimistic on economy, tax reform: survey

GMT 07:12 2017 Wednesday ,20 September

NAFTA talks moving at 'warp speed,' US trade rep

GMT 07:04 2017 Wednesday ,20 September

Brazil’s economy needs your prayers
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama calls on europe to resolve debt problems Arab Today, arab today obama calls on europe to resolve debt problems

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama calls on europe to resolve debt problems Arab Today, arab today obama calls on europe to resolve debt problems

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday