Obama Says European Debt Crisis Must Not Endanger Recovery

Townhall Staff

Jun 07, 2011 1:54 PM Jun 07, 2011

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June 7 (Bloomberg) -- President Barack Obama urged European leaders to resolve the continent’s debt crisis quickly to avoid endangering the global economy.

Obama said he and German Chancellor Angela Merkel, at a White House meeting, agreed that the financial situation in Europe “cannot be allowed to put the global economic recovery at risk.”

The president said he has told allies the U.S. will support steps to stem the crisis, because “we think that America’s economic growth depends on a sensible resolution of this issue.” Uncontrolled defaults in Europe would