“It’s in everybody’s interest for Greece to remain in the Euro Zone” clarified the US president Barack Obama during a speech on the Greek debt crisis held in the White House.
With this statement, the American president expressed the expectations of the West concerning the development of the Greek situation. Obama underlined that international partners and creditors of Greece recognize the sacrifices the Greek people have make so far but called on the Greeks to realize the many and even worse hardships underlying a possible Euro exit.
The US president warned that a Greek Euro exit could prove dangerous for the future of the rest of Europe and the international economy as well, which is still fighting its way out of the crisis.
According to Obama, Europe and its leaders fully understand that they need to take urgent and decisive steps towards strengthening the banking sector. “The decisions required are tough but Europe has the capacity to make them. The sooner that they act and the more decisive and concrete their actions the sooner people and markets will regain some confidence and the cheaper the costs of clean up will be down the road.” stated Obama.
Moreover, Obama reassured that Washington is seeing to not interfere with European politics and that the American financial system is stronger than ever before to withstand and financial impacts emerging in Europe.