At the Wall Street Journal, "Obama Expresses Sympathy for New Greek Government: U.S. President Said There Are Limits to How Far European Creditors Can Press Athens":
President Barack Obama expressed sympathy for the new Greek government as it seeks to rollback its strict bailout regime, saying there are limits to how far its European creditors can press Athens to repay its debts while restructuring the economy.FLASHBACK: "Greece Still Wants Free Lunch."
“You cannot keep on squeezing countries that are in the midst of depression. At some point there has to be a growth strategy in order for them to pay off their debts to eliminate some of their deficits,” Mr. Obama said in an interview with CNN’s Fareed Zakaria aired Sunday.
He said Athens needs to restructure its economy to boost its competitiveness, “but it’s very hard to initiate those changes if people’s standards of livings are dropping by 25%. Over time, eventually the political system, the society can’t sustain it.”
Mr. Obama expressed hope that an agreement would be reached so Greece can stay in the eurozone, saying, “I think that will require compromise on all sides.”...
Same as it ever was...
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