EU Turns to the U.S. for Assistance

EU Turns to the U.S. for Assistance

With economic turmoil in Europe mounting, many EU countries are turning to the United States for help.  On Monday, President Obama said America is ready “to do our part” to assist; however, the President went on to say the White House will rule out any U.S. taxpayer money being used as contributions.

Many economists say the stability of the European economy is crucial to a recovery in the United States and around the globe.  In a  Bloomberg Businessweek article, U.S. President  Barack Obama is quoted saying “Europe’s economy is very important to the U.S. and if Europe’s economy contracts, it would be more difficult to create jobs at home.”

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