US PRESIDENT Barack Obama yesterday urged European leaders to “break the fever” of the escalating debt crisis, as he admitted that the ongoing turmoil could hinder his own re-election prospects later this year.
“None of them are going to be a silver bullet that solves this thing entirely ... in the next week or two weeks or two months, but each step points to the fact that Europe is moving towards further integration rather than break-up,” Obama told reporters at the end of the two-day G20 summit in Mexico.
He said the sense of urgency among Eurozone leaders was clear at the summit, which backed Europe’s goals of stabilising the currency bloc’s financial fortunes.
The President, who is fighting to convince American voters of his economic nous ahead of November’s election, conceded after the summit that Europe’s trajectory could affect his popularity at home.
But he emphasised that for the US economy, “if we’re doing the right thing, then the politics will follow”.
City A.M. Reporter