President Barack Obama has said the US will play its part in helping to resolve Europe’s debt crisis, but he did not outline any new transatlantic initiatives. He was speaking after a US/EU summit in Washington dominated by economic concerns.
Flanked by EU Council President Herman Van Rompuy and EU Commission President Jose Manuel Barroso, Obama told reporters:
“Presidents Van Rompuy and Barroso have been very actively engaged with the heads of government and state in Europe to try to resolve this crisis. I communicated to them that the United States stands ready to do our part to help them resolve this issue. This is of huge importance to our own economy. If Europe is contracting, or Europe is having difficulties, then it’s 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.”
The White House is acutely aware that a downturn spreading to the US from Europe could severely undermine Obama’s hopes of re-election next year.