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Obama: EU failed to take 'decisive steps' in crisis
EurActiv ^ | 11 May 2012 | (EurActiv.com with Reuters)

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 ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Foreign Affairs
KEYWORDS: europeanunion; eussr; financialcrisis; obama

1 posted on 05/12/2012 3:12:38 PM PDT by Olog-hai
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To: Olog-hai
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. …

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.

2 posted on 05/12/2012 3:20:29 PM PDT by Vince Ferrer
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To: Olog-hai

You mean like printing more money to buy our own debt?


3 posted on 05/12/2012 3:22:48 PM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: Olog-hai

” Addressing about 70 people at a fundraiser in Seattle...” - 99%’ers, no doubt.


4 posted on 05/12/2012 3:29:37 PM PDT by REDWOOD99 ("Everyone should pay taxes. Everyone should pay the same rate.)
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To: Olog-hai

Which is why Europe is now pissed at the One they fawned over. He wants to blame them for his failures.


5 posted on 05/12/2012 3:49:32 PM PDT by autumnraine (America how long will you be so deaf and dumb to the tumbril wheels carrying you to the guillotine?)
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To: Olog-hai

The 1st Idiot speaketh.


6 posted on 05/12/2012 3:53:30 PM PDT by headstamp 2 (Liberalism: Carrying adolescent values and behavior into adult life.)
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To: Olog-hai
a large-scale fiscal stimulus program

No, this only Spent money the US couldn't afford, reducing future job opportunities. As we now see, it contributes to the lower unemployment, there is fewer available jobs to be unemployed from.
7 posted on 05/12/2012 4:16:57 PM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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To: autumnraine
The fawning went both ways. We dumb Americans failed to “appreciate Europe’s leading role in the world”, you see.
8 posted on 05/12/2012 4:19:49 PM PDT by Olog-hai
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To: Olog-hai

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.


9 posted on 05/12/2012 5:46:26 PM PDT by PubliusMM (RKBA; a matter of fact, not opinion. 01-20-2013: Change we can look forward to.)
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To: Olog-hai

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.


10 posted on 05/12/2012 5:47:13 PM PDT by DNME (A monarch's neck should always have a noose around it. It keeps him upright. — Robert Heinlein)
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To: Olog-hai

Could O’dumbass even find Europe on a map? I bet he could find Mecca though.


11 posted on 05/12/2012 6:00:31 PM PDT by Newtoidaho (Fight organized crime. Vote out all incumbent Democrats!)
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Click

12 posted on 05/12/2012 6:42:41 PM PDT by RedMDer (https://support.woundedwarriorproject.org/default.aspx?tsid=93)
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