Obama says US “ready” to help eurozone tackle crisis
Barack Obama, the US president, told leaders of the EU’s institutions today that the US was prepared to help the eurozone tackle its debt crisis.
Speaking after a EU-US summit held in Washington, DC, Obama said that he had discussed the eurozone debt crisis with the heads of the European Council and the European Commission. “I communicated to them that the United States stands ready to do our part to help them resolve this issue. This is of huge importance to our own economy,” Obama said.
Obama met Herman Van Rompuy, the European Council president, and José Manuel Barroso, the European Commission president.
Obama’s comments came at the same time as media reports that the International Monetary Fund is preparing a €600 billion-€700bn financial assistance package to aid eurozone countries. The funds are intended to help Spain and Italy if they are unable to borrow money from financial markets.
The leaders summit addressed a wide range of issues of mutual interest in addition to the eurozone debt crisis. They included co-ordinated action to boost economic growth and strengthen trade, improving regulatory convergence and co-operation on energy, tackling climate change and assisting new democratic movements in Egypt, Tunisia and Libya. They also stressed their concern about Iran’s attempts to develop a military nuclear capacity.