POTUS on Eurozone compromise
President Barack Obama meets with Prime Minister Petr Necas of the Czech Republic in the Oval Office October 27, 2011.
October 27th, 2011
06:04 PM ET

POTUS on Eurozone compromise

During a bilateral meeting in the Oval Office with the Prime Minister of the Czech Republic Petr Necas, President Obama reacted to today's announcement that the leaders of the European Union countries have come to a compromise over how to deal with Greece's debt crisis. Here's what the president said:

Let me say first at the top, the Prime Minister just came from Brussels, where he was part of the negotiations around the eurozone crisis.  I’m glad to see that progress was made in the recent meetings.  I think it is an important first step.  We’ve seen that, although it’s very complicated, obviously the countries of the eurozone and all of Europe are committed to the European project and are intent on making sure that it continues.

So we’ve seen that the message that they are going to deal with this in a serious way has calmed markets all around the world.  It will help lay the predicate for long-term economic growth not only in Europe but around the world.  The key now is to make sure that it is implemented fully and decisively, and I have great confidence in the European leadership to make that happen.

As reporters were being ushered out, the president was asked whether he thought the deal would help stave off a double-dip recession. He responded by acknowledging that "there has been progress," but what's needed now is "strong execution:"

I was very pleased to see that the leaders of Europe recognize that it is both in Europe’s interest and the world’s interest that the situation is stabilized.  And I think they’ve made significant progress over the last week.  And the key now is just to make sure that it drives forward in an effective way.

But it will definitely have an impact on us here in the United States.  If Europe is weak, if Europe is not growing, as our largest trading partner, that’s going to have an impact on our businesses and our ability to create jobs here in the United States.

President’s week ahead tips to global issues
June 5th, 2011
04:04 PM ET

President’s week ahead tips to global issues

WASHINGTON (CNN) - After spending a quiet weekend in Washington, including a round of golf on Saturday, President Obama faces a busy week ahead at the White House - a week in which he'll focus attention on issues overseas.  The president will host three international leaders, discussing a variety of issues, ranging from the world economy to military operations in Libya and Afghanistan to Africa. 

On Monday, there are no public events scheduled for the president.  President Obama will hold his monthly meeting on Afghanistan and Pakistan with his national security team.


Topics: Afghanistan • Africa • European Union • Germany • NATO • President Obama • State Dinner • The News • Uncategorized • White House
Obama taps GE chairman for new economic group
January 21st, 2011
02:12 PM ET

Obama taps GE chairman for new economic group

By CNN Wire Staff

Washington (CNN) - President Obama announced the creation of an economic advisory council Friday that will be headed by Jeffrey Immelt, the CEO and chairman of General Electric.

The President's Council on Jobs and Competitiveness will replace the Economic Recovery Advisory Board that was headed by former Federal Reserve Chairman Paul Volcker.

Volcker's board helped pull the economy "back from the brink," Obama said. Immelt's panel will be charged with "putting the economy into overdrive."

"Jeff's somebody who brings a wealth of experience to the table," Obama said. "We think GE has something to teach businesses all across America."

Obama made the announcement while visiting a GE plant in Schenectady, New York.


Topics: European Union • GM • President Obama
President Obama's Remarks at the End of EU Summit
November 20th, 2010
04:24 PM ET

President Obama's Remarks at the End of EU Summit

Well, thank you very much.  Good evening, everyone.  It is a pleasure to be here with President Barroso and President Van Rompuy.

I am proud to be here.  I was proud to meet with the leaders of the 27 European member states during our summit in Prague last year.  I was pleased to welcome President Barroso and the EU leadership to the White House last fall.  I have been pleased to work with both Herman and Jose at the G20 context, and today marks our first summit under the EU’s Lisbon treaty.  So - it was also wonderful to meet Cathy Ashton, who’s doing outstanding work.