U.S. President Barack Obama expressed his support on Monday regarding all tough political decisions and choices that will allow the Greek government to secure a vital bailout deal in order to remain in the Eurozone and return to growth and prosperity.
After the G7 summit in Germany ended, Obama told reporters at a press conference: “We support the efforts to find a path that will allow Greece to implement the necessary reforms and return to growth, in a strong, stable and developing Eurozone.”
And the U.S. President continued by saying: “If both sides are showing sufficient flexibility, then I think we can get this problem resolved, but it will require tough decisions for all involved.”
During his visit to Germany, Obama not only underlined the necessity for Greece to make tough decisions about future reforms, but he also urged the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) to recognize the hard challenges crisis-stricken Greece is facing.
Obama’s comments on the ongoing negotiations came just after German Chancellor Angela Merkel warned that time is running short for an agreement on the Greek financial crisis. “One must work with all intensity,” she said.
The German Chancellor also said that all the countries participating in the summit want Greece to remain in the Eurozone but the country must also do its part. “Everyone around the table wants Greece to stay in the euro… but we have rules,” Merkel told reporters, adding that solidarity and efforts by Greece constitute “the right mix and two sides of the same coin.”
Merkel mentioned Ireland, Spain and Cyprus as examples of countries that, after implementing painful measures, have improved their economy. “The measures proposed by the Troika have led to success elsewhere,” she noted.
She also said Greece was of one of the many issues discussed at the G7 summit, noting that “non-European partners” asked about the progress of the ongoing negotiations.
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