U.S. Embassy Tallinn June 11, 2012
At a White House Press Conference on Friday, President Barak Obama stated his belief that the eurozone crisis is solvable and that European leaders will make the right decisions to steer the monetary union back to fiscal health.

“These decisions are fundamentally in the hands of Europe’s leaders, and fortunately, they understand the seriousness of the situation and the urgent need to act. The bottom line is the solutions to these problems are hard, but there are solutions. The decisions required are tough, but Europe has the capacity to make them.”

The President also reiterated America’s support for Europe and its importance to the U.S. economy: “[Europe] ha[s] America’s support. Their success is good for us. And the sooner that they act, and the more decisive and concrete their actions, the sooner people and markets will regain some confidence and the cheaper the costs of cleanup will be down the road.” Europe is the U.S.’s largest trading partner.

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