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Obama praises Merkel’s euro crisis leadership

Published: 22 Feb 2012 12:27 GMT+01:00

The White House said late Tuesday that "the president thanked the chancellor for her leadership and welcomed last night's agreement in Europe on a new rescue programme for Greece to help reduce its debt to sustainable levels."

"The president and chancellor agreed that the planned EU fiscal pact, recent actions by the European Central Bank and reforms by Spain and Italy have also been positive steps in addressing the eurozone crisis," White House spokesman Jay Carney added.

But back home the reaction to the new €130 billion Greek bailout deal, agreed by the eurozone’s finance ministers Tuesday morning, has been less friendly.

Prominent Merkel-ally Wolfgang Bosbach, deputy parliamentary leader in the chancellor’s Christian Democratic Union, has already announced that he would not vote for the new package.

“We’re marching with great strides towards a union of liability, and we’re burdening future generations with risks that I find unjustifiable,” he told the Passauer Neue Presse.

Bosbach has a history of defying his party on the euro crisis – he also opposed the expansion of the European Financial Stability Facility (EFSF) last year.

He has been joined this time by the German Taxpayers Federation (BdSt), which has called on the German parliament to vote against the bailout package. “Once again, the taxpayers are the losers in the second Greece package,” BdSt President Karl-Heinz Däke told the Neue Osnabrücker Zeitung.

Private creditors are also expected to agree to debt cuts of €107 billion to save Greece from its spiralling debts, but it remains unclear whether enough banks, hedge-funds and other financial institutions will participate in the plan.

The bailout deal will be put to the German parliament next Monday.

The Local/bk

The Local (news@thelocal.de)

Your comments about this article

14:00 February 22, 2012 by raandy
Mrs Merkel you are doing well to conceal your dislike of hugs from non family members :-)
14:29 February 22, 2012 by steve_glienicke
Think if i was these clowns, i would hold back a bit on the hug's and kisses for a job well done.......

1st thing is it has not yet been cleared by all parties and 2nd thing, with less pennies in the pocket, how does anyone think the poor greek people are going to be able to kick start the economy again, all the job loses and higher taxes etc,etc, are fine and dandy, but these people still need money to buy things, no money = no purchasing, and no purchasing means no growth!
14:43 February 22, 2012 by derExDeutsche
'Tonight, Angela, we feast on our young.'

all praise be to Jesus Christ, the Banksters are finally getting some of their money back.
16:28 February 22, 2012 by Tanskalainen
Obama just wants her blonde coochie.
16:39 February 22, 2012 by X13F
If this guy wasn't such a #$%&$% liar and thief it would be laughable. He and his family have taken more expensive trips and vacations, holds weekly $$ parties, etc. than any president in history. Just in the last 30 days Michele and mommy and daughters have spent 17 days in Hawaii and a week in Aspen, Colorado. Wish I could afford to go but I can't because I have to pay for the wealthy to vacation. All the occupy wall street, 99%ers vs 1%ers are useful idiots of political elites and don't even know it. Slight of hand distractions. Everyday stealing our freedom while saying it is to keep us safe. Safe from whom? Obama vacations while Rome burns. 4 more years of this and the U.S. will be asking Greece for aid.
17:13 February 22, 2012 by Englishted
Keep hugging her and expect a knife in the back from a certain nasty little French dwarf who thinks he is the love of her life.
18:51 February 22, 2012 by Dizz
LOL @ Englishted!!

What is it about American Presidents not being able to keep their hands off her, eh?
19:53 February 22, 2012 by carlm
Praise from president Downgrade is the greatest of insults.
20:00 February 22, 2012 by Englishted
Put her down you don't know where she's been.
08:14 February 23, 2012 by OkieinBerlin
@x13F, in four years, when you are proven wrong, will you then admit your ignorance for us all to read? the ranks crybaby losers just keep coming up with new Obama plots and crimes... it seems to me that superior thinkers like you would just once come up with some tangible proof of all the crimes you've accused this man of.

At least we can take some consolation in the fact that the best you can do is sit at home, read your screen and rant.
10:48 February 24, 2012 by christopheuk25
Stomach churning b/s, an imbecile praising a cretin,pass the sick bag.
19:48 February 24, 2012 by raandy
OkieinBerlin nice to hear from a guy with an axe to grind.
13:02 February 25, 2012 by Deutschguy
Let a thousand okieinBerlins bloom, as s/he is a rational voice against the paranoid rants of x13f.

@x13f: You are clearly fed by Faux News, NewsMax, and right wing talk radio, who just make stuff up.

If you want to list abuses in office, go back no further than Bush Jr./Cheney. And you probably voted for them twice. Or to Reagan's, who still holds the record for the most corrupt and most indicted officials.

x13f: You are either a shill for Big Oil or make your money from bloated and fraudulent US defense contracts. Or maybe some Koch Brothers funded group just pays you to spew this crazy stuff.
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