110
Trader, analyst and instructor with a 6-year experience

Obama: Greece needs growth

The US President Barack Obama supported the Greek Prime Minister Antonis Samaras and his economic restructuring plans after the two leaders met on Thursday.

"The Prime Minister has taken some very bold and difficult measures to initiate the structural reforms that will help reduce the debt burden," Mr. Obama said after the meeting at the White House. 

However, the US leader has emphasized that the Greek government needs to focus on growth, putting the austerity programs initiated by Germany, into question.

"We cannot simply look to austerity as a strategy. It is important that we have a plan for fiscal consolidation to manage the debt, but it is also important that growth and jobs are a focus," Obama said. "Countries that are growing have an easier time reducing their debt burdens."

Scroll to top