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Economic woes dominate Obama, Merkel newser

Wednesday, June 08, 2011 - 01:50

June 7 - Economic issues dominate a joint news conference with U.S. President Barack Obama and German Chancellor Angela Merkel. Deborah Lutterbeck reports.

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Economic issues dominate the joint news conference with U.S. President Barack Obama and German Chancellor Angela Merkel with the leaders facing questions on financial strains in Europe and the state of the US economic recovery. With Greece in crisis and Europe zone members hoping to defuse the problem Obama warns of disaster if there is a default in Europe zone. SOUNDBITE: U.S. President Barack Obama, saying (English): "We think it would be disastrous for us to see an uncontrolled spiral and default in Europe, because that could trigger a whole range of other events nd I think Angela shares that same view." Merkel offered assurances that Europe would handle the crisis. Obama said a default in the euro zone must be avoided. SOUNDBITE: German Chancellor Angela Merkel, saying (German with English translation): "If a country is in danger it is in every countries best interest to see they are not in danger." With signs that the US economy is lagging Obama was asked whether he feared a double dip recession. SOUNDBITE: U.S. President Barack Obama, saying (English): "I am not concerned about a double dip recession, but I am concerned that jobs are not coming as soon as we would like." Merkel will return to the White House in the evening for a full State dinner. Deborah Lutterbeck, Reuters.

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Economic woes dominate Obama, Merkel newser

Wednesday, June 08, 2011 - 01:50