UK Daily Mail
Friday, November 11, 2011

Barack Obama has read the riot act to the leaders of several European countries – saying more dramatic action is needed to avert a eurozone meltdown.

The U.S. President made telephone calls to German Chancellor Angela Merkel, French President Nicolas Sarkozy and Italian President Giorgio Napolitano late last night.

Treasury Secretary Timothy Geithner said the president had demanded faster action from Europe.

It came as Hong Kong revealed it had plunged into recession.

Speaking from the Asia-Pacific Economic Co-operation conference, Geithner said: ‘The crisis in Europe remains the central challenge to global growth.

‘It is crucial that Europe move quickly to put in place a strong plan to restore financial stability.’

Full article here

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