US Steps Up Game in Greek Crisis

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President Obama talks with former Greek minister of finance during an event at the White House in April 2015.

As crisis deepens in Greece with banks being closed for a second consecutive week, the US seems to get more involved in EU politics.

White House spokesman Josh Earnest said yesterday that it is in “the collective interests” of Europe and the United States that Greece reaches a new bailout deal with its lenders, with Athens agreeing to “a package of reforms.”

U.S. stock prices moved down, but the declines were not as large as some analysts predicted. Most markets around the world, including those in Europe, fell because of the financial uncertainty created by the Greek vote.

On the same day, President Obama spoke with President Hollande of France regarding the developments in Greece.

“The two leaders agreed on the importance of finding a path forward that will allow Greece to resume reforms and return to growth and sustainability within the Eurozone, recognizing that this will require difficult compromises from all sides,” said the White House in a release.

“The leaders noted that their economic teams continue to be in Close contact and are monitoring the situation in Greece and in all global markets,” concluded the statement.