–EU’s Barroso: EU Serious About Magnitude of its Problems
WASHINGTON (MNI) – President Barack Obama once again Monday pledged
to help Europe resolve it’s crisis, which is important to the U.S.
economy as well.
Speaking after the semi-annual EU-U.S. summit, where he met with
European Council President Herman Van Rompuy and European Commission
President Jose Manuel Barroso, Obama noted that much of the talk was
about the achieving economic growth and creating jobs.
Obama said the U.S. “stands ready” to help Europe to resolve the
debt crisis, which is of “huge importance” to the U.S. economy.
However, he downplayed the news value of the summit, saying, “These
aren’t always the most dramatic meetings because we agree on so much;
that sometimes it’s hard to make news.”
The meeting was unusual in that the leaders issued statements but
did not take questions from reporters.
Barroso said the EU is serious about the magnitude of the problems
it faces and is taking the necessary steps. He said he has “full
confidence” in the leadership of the EU to tackle the debt crisis.
“The world economy has not yet been able to absorb and overcome all
the effects of the 2008 financial crisis,” Barroso said. “We face the
common challenge of bringing debt under control, while re-launching
growth and creating new jobs. We all know this is not an easy task.”
The joint statement said the leaders are “committed to working
together to reinvigorate economic growth, create jobs, and ensure
financial stability. We will do so by taking actions that address
near-term growth concerns, as well as fiscal and financial
vulnerabilities, and that strengthen the foundations of long-lasting and
balanced growth.
“In that regard, the United States welcomes the EU’s actions and
determination to take all necessary steps to ensure the euro area’s
financial stability and resolve the crisis,” the statement said.
** Market News International Washington Bureau: 202-371-2121 **
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