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President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.
Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.
"America's economic growth depends on a sensible resolution of this issue," he said. "It would be disastrous for us to see an uncontrolled spiral and default in Europe because that could trigger a whole range of other events."
Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.
Originally posted by Cuervo
First of all... what is so bad about him urging Europe to help out Greece? Second of all, our hand in helping Greece has nothing to do with spending money; it is simply forgiving some of their debt towards us (that they wouldn't be able to pay anyway) and making them promise to spend it on particular things within their own government.
The EU is meant for this kind of insurance. Why is it so bad urging them to fulfill their purpose?
Originally posted by Cuervo
I love how the ATS community generally jumps the gun without actually considering facts. I know, I know... facts tend to have a liberal bias but they are important, none the less.
First of all... what is so bad about him urging Europe to help out Greece? Second of all, our hand in helping Greece has nothing to do with spending money; it is simply forgiving some of their debt towards us (that they wouldn't be able to pay anyway) and making them promise to spend it on particular things within their own government.
The EU is meant for this kind of insurance. Why is it so bad urging them to fulfill their purpose?
Originally posted by Cuervo
reply to post by UcDat
I understand that the situation is not a noble one nor should we even be involved. The problem I have is that everybody jumps to conclusions, assuming that Obama is just throwing money at them when, really, it has nothing to do with that.
I hope they give the world the finger, personally.