President Obama Concerned about Greece

President Barrack Obama

President Barack Obama stated in an interview released Saturday from Russia’s Channel Rossiya that he was “very concerned” about the Greek debt crisis and its impact on European economies.

“I am very concerned about what’s happening in Europe,” Obama said during the interview conducted at the White House on Thursday.

“But I think it is an issue that the Europeans recognize is very serious.”

“If we can stabilize Europe that will be good for the United States,” Obama said.

His remarks came before a bailout from the European and the International Monetary Fund worth 140 billion dollars needed by debt-hit Athens.

Obama commended Greece for its proposed “very difficult measures” of some 30 billion euros (38 billion dollars) in tax hikes and spending cuts.

AFP reported that Greece was still plagued by concern that the draconian austerity measures could plunge the recession-hit Greek economy into deeper trouble, dampen productive initiative and create cracks in social cohesion.

Obama said about the Greek crisis and the impact it has had on world markets as one of the “real threats” to US well-being.

The White house has strongly backed the bailout for Greece, staing that “it has the potential to help restore stability to the country, and the global financial community.”