News / USA

    Obama: Euro Crisis Solution of 'Huge Importance' for US

    President Barack Obama, European Council President Herman Van Rompuy, left, and European Commission President Jose Manuel Barroso in the Roosevelt Room of the White House Washington, Monday, Nov. 28, 2011.
    President Barack Obama, European Council President Herman Van Rompuy, left, and European Commission President Jose Manuel Barroso in the Roosevelt Room of the White House Washington, Monday, Nov. 28, 2011.

    At the White House on Monday, President Barack Obama met with European Union leaders, focusing on the European debt crisis and efforts by governments to preserve the eurozone amid recession worries.  Mr. Obama called a solution to European fiscal problems "of huge importance" to the United States.

    President Obama's message for a troubled Europe has been consistent, voicing confidence that leaders on the continent have the capacity to resolve their debt crisis, but urging them to find the political will for an effective solution.

    He repeated those themes in his two hours of talks and a working lunch with three officials - European Council President Herman Van Rompuy, European Commission President Jose Manuel Barroso, and EU High Representative Catherine Ashton.

    In his statement to reporters, Mr. Obama again emphasized the connection between European problems and the United States.

    "This is of huge importance to our own economy. If Europe is contracting or Europe is having difficulties then it is much more difficult for us to create good jobs here at home because we send so many of our products and services to Europe, it is such an important trading partner for us.   So we have got an important stake in their success and we will continue to work in a constructive way to try to resolve this issue in the near future," he said.

    The annual summit came amid new worries about Europe falling into recession, as governments implement an agreement reached in October, and members such as Italy, Greece, and Spain work to solve their fiscal crises.

    It also came amid ongoing concerns about problems in Europe, a major U.S trading partner, potentially kicking the U.S. economy back into a full recession.

    In his remarks, Van Rompuy said European governments have taken decisions that he called "unthinkable" a year ago, but know they must do more and pointed to a plan he will present next month. "We are aiming for binding rules to ensure strong fiscal and economic discipline in our countries to go hand in hand with fiscal and economic integration, not only discipline but also integration in the Euro area as whole," he said.

    Barroso said European leaders are determined to deal effectively with the crisis, but added that "some decisions take time." "I want to reassure President Obama and also I want to reassure the Americans.  Europe is going through rough times, yes, but we are determined to overcome the current difficulties," he said.

    In an interview with VOA, Jonathan Story, a professor of International Political Economy at France's INSEAD business school, said the U.S. is limited in what it can do to move Europe forward. "The U.S. has an interest in its resolution that is for sure because Europe is a very big market for U.S. businesses who are the main investor in Europe and European investors are the main investors in the United States, so the two economies are very intertwined but there is actually very little the U.S. can do because the resolution of the problem is in European hands," he said.

    Also attended by Secretary of State Hillary Clinton, the U.S. - EU talks also covered the Arab Spring, the situation in Syria, Iran's nuclear program, and political and human rights issues in Ukraine and Belarus.

    Noting the first post-Mubarak election in Egypt, and events in Tunisia and Libya, a joint statement said considerable challenges lie ahead but the U.S. and EU are committed to supporting democratic transitions and economic growth in the region.

    It called on the Assad government in Syria to end violence immediately, permit the immediate entry of human rights observers and international journalists, and allow for a peaceful and democratic transition.

    The U.S. and EU shared "deep concern" about "possible military dimensions" of Iran's nuclear program, saying they are committed to working toward a diplomatic solution but will consider additional measures given Iran's continued failure to abide by its international obligations.

    President Obama and EU officials also looked ahead to next week's conference on Afghanistan in Bonn, Germany, with Mr. Obama saying both sides have a "shared stake" in continued progress in Afghanistan.

    You May Like

    Brexit Vote Triggers Increase in Racist Attacks

    Britain's decision to leave European Union seen by some as 'permission' to unleash anti-immigrant resentment

    Russian Military Tests Readiness With Snap Inspections

    Some observers see surprise drill as tit-for-tat response to NATO’s recent multinational military exercises in Baltic region

    AIIB Takes Big Strides Amid Fears About China's Dominance

    Asian Infrastructure Investment Bank says it is independent, but concerns persist; China holds 20.6 percent of bank's shares, others have less than 7.5 percent each

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Re-Opening Old Wounds in a Bullet-Riddled Cultural Landmarki
    X
    John Owens
    June 26, 2016 2:04 PM
    A cultural landmark before Lebanon’s civil war transformed it into a nest of snipers, Beirut’s ‘Yellow House’ is once again set to play a crucial role in the city.  Built in a neo-Ottoman style in the 1920s, in September it is set to be re-opened as a ‘memory museum’ - its bullet-riddled walls and bunkered positions overlooking the city’s notorious ‘Green Line’ maintained for posterity. John Owens reports from Beirut.
    Video

    Video Re-Opening Old Wounds in a Bullet-Riddled Cultural Landmark

    A cultural landmark before Lebanon’s civil war transformed it into a nest of snipers, Beirut’s ‘Yellow House’ is once again set to play a crucial role in the city.  Built in a neo-Ottoman style in the 1920s, in September it is set to be re-opened as a ‘memory museum’ - its bullet-riddled walls and bunkered positions overlooking the city’s notorious ‘Green Line’ maintained for posterity. John Owens reports from Beirut.
    Video

    Video Brexit Resounds in US Presidential Contest

    Britain’s decision to leave the European Union is resounding in America’s presidential race. As VOA’s Michael Bowman reports, Republican presumptive nominee Donald Trump sees Britain’s move as an affirmation of his campaign’s core messages, while Democrat Hillary Clinton sees the episode as further evidence that Trump is unfit to be president.
    Video

    Video New York Pride March A Celebration of Life, Mourning of Loss

    At this year’s march in New York marking the end of pride week, a record-breaking crowd of LGBT activists and allies marched down Manhattan's Fifth Avenue, in what will be long remembered as a powerful display of solidarity and remembrance for the 49 victims killed two weeks ago in an Orlando gay nightclub.
    Video

    Video NASA Juno Spacecraft, Nearing Jupiter, to Shed Light on Gas Giant

    After a five-year journey, the spacecraft Juno is nearing its destination, the giant planet Jupiter, where it will enter orbit and start sending data back July 4th. As Mike O'Sullivan reports from Pasadena, California, the craft will pierce the veil of Jupiter's dense cloud cover to reveal its mysteries.
    Video

    Video Brexit Vote Plunges Global Markets Into Uncharted Territory

    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Orlando Shooting Changes Debate on Gun Control

    It’s been nearly two weeks since the largest mass shooting ever in the United States. Despite public calls for tighter gun control laws, Congress is at an impasse. Democratic lawmakers resorted to a 1960s civil rights tactic to portray their frustration. VOA’s Carolyn Presutti explains how the Orlando, Florida shooting is changing the debate.
    Video

    Video Tunisian Fishing Town Searches for Jobs, Local Development Solutions

    As the European Union tries to come to grips with its migrant crisis, some newcomers are leaving voluntarily. But those returning to their home countries face an uncertain future.  Five years after Tunisia's revolution, the tiny North African country is struggling with unrest, soaring unemployment and plummeting growth. From the southern Tunisian fishing town of Zarzis, Lisa Bryant takes a look for VOA at a search for local solutions.
    Video

    Video 'American Troops' in Russia Despite Tensions

    Historic battle re-enactment is a niche hobby with a fair number of adherents in Russia where past military victories are played-up by the Kremlin as a show of national strength. But, one group of World War II re-enactors in Moscow has the rare distinction of choosing to play western ally troops. VOA's Daniel Schearf explains.
    Video

    Video Experts: Very Few Killed in US Gun Violence Are Victims of Mass Shootings

    The deadly shooting at a Florida nightclub has reignited the debate in the U.S. over gun control. Although Congress doesn't provide government health agencies funds to study gun violence, public health experts say private research has helped them learn some things about the issue. VOA's Carol Pearson reports.
    Video

    Video Muslim American Mayor Calls for Tolerance

    Syrian-born Mohamed Khairullah describes himself as "an American mayor who happens to be Muslim." As the three-term mayor of Prospect Park, New Jersey, he believes his town of 6,000 is an example of how ethnicity and religious beliefs should not determine a community's leadership. Ramon Taylor has this report from Prospect Park.
    Video

    Video Internal Rifts Over Syria Policy Could Be Headache for Next US President

    With the Obama administration showing little outward enthusiasm for adopting a more robust Syria policy, there is a strong likelihood that the internal discontent expressed by State Department employees will roll over to the next administration. VOA State Department correspondent Pam Dockins reports.
    Video

    Video Senegal to Park Colorful ‘Cars Rapide’ Permanently

    Brightly painted cars rapide are a hallmark of Dakar, offering residents a cheap way to get around the capital city since 1976. But the privately owned minibuses are scheduled to be parked for good in late 2018, as Ricci Shryock reports for VOA.

    Special Report

    Adrift The Invisible African Diaspora