Europe News

Obama telephones Merkel ahead of key EU summit

Dec 7, 2011, 23:06 GMT

Washington - US President Barack Obama spoke Wednesday with German Chancellor Angela Merkel about the crisis plaguing the eurozone.

The leaders continued 'their ongoing consultations on the financial situation in the eurozone,' the White House said in a statement.

Merkel and French President Nicolas Sarkozy earlier Wednesday called on their European Union partners to take immediate action to contain the region's debt crisis, amid signs of divisions over the measures needed to deal with the upheaval.

A critical summit of EU leaders is set for Brussels on Thursday and Friday to discuss possible treaty changes to instil greater budget discipline in the eurozone and thus restore market confidence in the debt-plagued currency bloc.

Obama thanked Merkel and other European leaders for their efforts to resolve the crisis, and the leaders agreed on the importance of finding a 'lasting and credible solution,' the White House said.

US Treasury Secretary Timothy Geithner has been on a European tour to prod the bloc to solve the crisis. He said after meeting with French leaders earlier Wednesday that he was 'confident' of success.

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