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US wants more steps to solve Eurozone crisis

Last Updated: Tuesday, June 5, 2012 - 10:55

Washington: The White House has called on the European nations to take more steps to solve the worsening Eurozone crisis, saying the markets view the measures being taken so far as insufficient.

"There's no question that markets remain skeptical that the measures taken thus far are sufficient to secure the recovery in Europe and remove the risk that the crisis will deepen," Xinhua quoted White House spokesman Jay Carney as saying at a briefing Monday.

"So we obviously believe that more steps need to be taken," he said.

The administration has been discussing with its European counterparts on the "difficult steps" need to be taken, the spokesman said.

These steps, he said, included "strict stress tests" for the banks and requirement for them to raise capital, which were both the measures being taken by the US during the 2008-2009 financial crisis.

Recent gloomy job data in the US and the uncertainty of the European debt crisis have raised doubts on the recovery of the US economy.

Days ago, US President Barack Obama sent Lael Brainard, the under secretary of treasury for international affairs, to Greece, Germany, Spain and France, the four key players in the Eurozone crisis. Many believe that Washington is increasing pressure on the Europeans to take more decisive measures.

"In his conversations, and obviously the conversations that Secretary Geithner, as well as Lael Brainard and others, have had with their counterparts, they've discussed how some of those lessons that we learned here might be applied in Europe," Carney said.


First Published: Tuesday, June 5, 2012 - 10:55
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