Skip to comments.Obama: EU failed to take 'decisive steps' in crisis
Posted on 05/12/2012 3:12:26 PM PDT by Olog-hai
US President Barack Obama said on Thursday (10 May) that Europe was still in a difficult place economically in part because it did not take some of the steps the United States did. These had included a large-scale fiscal stimulus program and aggressive action by the Federal Reverve, the US central bank.
Addressing about 70 people at a fundraiser in Seattle, Obama said Europe's troubles were among the factors that could affect US growth, also mentioning high gasoline prices as a potential economic drag.
"We've still got headwinds. Europe is still in a difficult state, partly because they didn't take some of the decisive steps that we took early on in this recession," Obama said at the event, which was held in a private home.
"Gas prices are still pinching a lot of folks," he said, referring to the U.S. economy. The housing market is still very weak across the country. But the good news is that we have weathered the storm."
Obama did not specify which economic steps Europe ought to have followed. But a senior administration official said some examples included the United States' early stress tests on banks, requirements that banks bolster their capital cushions and an aggressive early response by the Federal Reserve, the U.S. central bank.
(Excerpt) Read more at euractiv.com ...
These were done by either Bush or the Federal Reserve. Plus, we have escaped some of Europe's problems because we have our own exclusive currency. But eventually we need to address our own problems, and Obama cannot state what he will do during an election year.
You mean like printing more money to buy our own debt?
” Addressing about 70 people at a fundraiser in Seattle...” - 99%’ers, no doubt.
Which is why Europe is now pissed at the One they fawned over. He wants to blame them for his failures.
The 1st Idiot speaketh.
Memo to the EU: You may not want to take economic advice from the Kenyan Marxist in the US. He only audited that course; and even failed that miserably.
We’ve avoided our economic problems? Seriously?
Obummer is utterly clueless. We’re staring down the barrel of the same gun. All we’ve done is kick the can further down the road that the Europeans did.
Doomsday still looms and draws ever closer.
Could O’dumbass even find Europe on a map? I bet he could find Mecca though.
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