Obama presses Europe, pledges help for Greek crisis

(Reuters) - President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.

Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.

After a meeting with German Chancellor Angela Merkel, he stressed the importance of German "leadership" on the issue -- a hint that he expects Berlin to help -- while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state.

"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable," Obama said.

"But it's going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF."

Read more: http://www.reuters.com/article/2011/06/08/us-eurozone-usa-idUSTRE75647720110608

I bet the Greeks can handle their problems on their own.

But what about all the banksters who made reckless loans? You expect them to take a bath on their investments, just because they weren't very careful? What kind of heartless monster are you? The Big Money Boyz can't be on the hook for their own failures! We have to DO something.

an economic crisis here at home. A lot of Americans are running out of time and resources. Remember, there is an election coming up.

of Greceian debt. I think Greece should default, should withdraw from the Euro, move back to the drachma and let the chips fall where they may. No way should the Greek working class be expected to make whole the risky lending practices of speculators who purchased Greek debt.

Whatever happened to the old caution that one lends at one's own risk?

At the rate he is going he will hand the 2012 election to the Republican on a platter.

will be bailing out a bunch of bankers who loaned money to Greece or bought Greek bonds.

IOW, bailing out a bunch of parasites.

It is the best of many bad options.

I don't see what benefit Obama thinks he can derive from involving himself in this mess.