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Obama calls Zapatero concerning the market situation

The president of the United States called on Monday evening, the Spanish Prime Minister to discuss the world economic situation, focusing on two main themes, the evolution of debt problems in Europe and the United States, and the growth of world economy.

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09 August 2011 06:17 PM

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ACN

Madrid (ACN) .- The president of the United States, Barack Obama, called on Monday evening, the Spanish Prime Minister Jose Luis Rodriguez Zapatero to discuss the world economic situation, focusing on two main themes, the evolution of debt problems in Europe and the United States, and the growth of world economy. According to La Moncloa, the two leaders agreed on the need to accelerate the implementation of economic reforms as proposed by the Eurogroup on the 21st July, which included the continued support for Greece and a commitment to the Euro. Obama also telephoned the Italian Prime Minister Silvio Berlusconi.


On the development of the global market including the euro zone and emerging economies the two leaders have highlighted the need to work together to strengthen financial growth and prevent the emergence of a stagnant economy. 

Obama, who called the president after the devaluation of the US debt level by Standard & Poor's, has agreed to maintain contact between the two governments' economic teams in order to move forward in coordination to promote stability.

Obama's conversation with Zapatero was not only call that the president of the United States made yesterday also talking with Berlusconi. In fact, Obama made calls to all of the leaders whose countries had been affected after the European Central Bank (ECB) yesterday bought bonds of Spain and Italy in order to calm the markets.

Obama appearance yesterday is said to have been an effort to calm the markets in the wake of the loses that took place across Europe last Friday. However, the President of the United States does not yet know what the consequences of this move will be.

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  • Barack Obama and José Luís Rodríguez Zapatero talked on the phone over the current economic situation (by Reuters)

  • Barack Obama and José Luís Rodríguez Zapatero talked on the phone over the current economic situation (by Reuters)