Skip to content

Be Afraid: Obama Enters Greek Financial Crisis

SIGN UP FOR OUR NEWSLETTER

The Greek financial crisis just got worse. As if the mountain of debt, default and ruination of the EU’s collective economy wasn’t bad enough, now US President Barack Obama has started cold calling European leaders to offer them words of economic counsel.

This is the man, don’t forget, who has single-handedly watched the US economy go to sleep on his watch. As Breitbart News pointed out last November, Obama’s dreamy leftist economic policies have failed America. Think soaring debt, cash splashed on hopeless public spending schemes, ObamaCare’s waste and stagnant middle class incomes coupled with flat-lining real growth and you would have to wonder just what words of advice he could offer.

Still, it seems Obama rang and spoke with Greek Prime Minister Alexis Tsipras last night to enforce his desire for a resolution. According to news.com Obama had earlier spoken with German Chancellor Angela Merkel by phone, urging her and her colleagues to find a solution before Greece’s fiscal cold becomes Europe’s influenza epidemic.

So just what did he say?

“We continue to encourage all sides to participate constructively in those conversations,” White House spokesman Josh Earnest said, renewing calls for a deal between Athens and its creditors.

He added: “The leaders agreed it is in everyone’s interest to reach a durable agreement that will allow Greece to resume reforms, return to growth, and achieve debt sustainability within the eurozone. The leaders noted that their economics teams are monitoring the situation in Greece and remain in close contact.”

Earnest finished with a few words of delightful understatement, adding that the White House is aware that reaching a deal could be “quite complicated.” You think so, Josh?

Meanwhile in Greece, the banks and the local stock exchange remained closed, a cap on withdrawals are still in place and liquidity remained critical.

Tomorrow there will be yet another meeting of financial ministers desperate to find out a way out – if indeed there really is one aside from catastrophic Greek debt default – but at least we know the issue now has the attention of the famously-aloof Barack Obama.

On Sunday, the 28 leaders of the full European Union will meet to assess the final proposals for Greece that European Union President Donald Tusk described as “maybe the most critical moment in our history”.

Follow Simon Kent on Twitter: or e-mail to: skent@breitbart.com

 


Comment count on this article reflects comments made on Breitbart.com and Facebook. Visit Breitbart's Facebook Page.