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Obama attacks Euro leaders over debt crisis
Pot, meet kettle .... or, Chutzpah illustrated.
President Barack Obama has criticised European leaders for failing to tackle the debt crisis and has demanded "more effective, co-ordinated" fiscal policy.

Reflecting the anger of Americans who are blaming Europe for the current economic turmoil, the President called for eurozone leaders to show global markets they are taking responsibility for the crisis.

Tim Geithner, the US Treasury Secretary, is set to take the unusual step of attending a European Finance Ministers meeting on Friday.

Analysts at JP Morgan said there was "a growing sense that the crisis is reaching a climax", arguing that the "endgame on EMU [European Monetary Union] is approaching fast".
Okay, they have a point.
Jim O'Neill, chairman of Goldman Sachs Asset Management, added that along with Greece, "something big needs to happen for European bank capital, the clarity and determination of ECB policy making and, most importantly, where Germany wants to lead EMU".

Market confidence in the 17-state eurozone was knocked again on Tuesday when Italy was forced to pay a record 5.6pc yield to sell €3.9bn (£3.4bn) of five-year bonds. Officials said that Giulio Tremonti, the country's finance minister, had met investors from China but there was not yet an agreement to buy government bonds.

Markets across Europe had a volatile day amid fears of Greek and Italian default, and a French banking crisis.
Posted by: lotp 2011-09-14
http://www.rantburg.com/poparticle.php?ID=329731