Thursday, December 8, 2011

Obama says EU is wealthy enough to solve crisis

US President Barack Obama said today he was "very concerned" about the euro zone crisis and believed the European Union had the resources to solve it if leaders could find the political will.

"Europe is wealthy enough that there's no reason why they can't solve this problem," Obama told reporters at the White House.

"If they muster the political will, they have the capacity to settle markets down, make sure that they are acting responsibly and that governments like Italy are able to finance their debt."

Obama said he thought German Chancellor Angela Merkel had made progress with other European leaders on the issue.