Today's Coming Crisis Movie

Friday, November 4, 2011

Sort out your own mess: Obama reads riot act to Europe over Greek meltdown as he vetoes EU bid to pull in more cash from IMF - 4th Nov 2011

Barack Obama today read the riot act to European leaders as he vetoed their bid to squeeze more money out of the International Monetary Fund - sending them begging back to China instead.

The U.S. President urged G20 leaders to swiftly sort out a eurozone rescue plan and he was forced to state he doesn't have one eye on his own prospects of staying in the White House.

President Obama's political fortunes and his economy are at risk, and at the G20 summit in Cannes, France, he pledged to be a partner in helping the Europeans cope with the economic emergency.

But his aides insisted that Europe's problem, brought on by the threat of a Greek default, was one it had to fix. The stakes in Europe are immense as he seeks a second term in a time of economic peril.

'Events in Greece over the last 24 hours have underscored the importance of implementing the (bailout) plan,' President Obama said. 'I'm confident Europe has the ability to meet this challenge. Read More