Global Biz

Greek PM says Obama positive on crackdown on speculators

(Xinhua)
Updated: 2010-03-10 05:50

WASHINGTON - Greek Prime Minister George Papandreou said on Tuesday that he had received a positive support from US President Barack Obama to deal with the crisis in Greece.

"We have found a positive response from President Obama which means this issue will be on the agenda in the next G20 meeting," Papandreou told reporters after his meeting with Obama at the White House.

He also said that Greece has not asked the United States for financial help.

"What we are doing is, first of all, revamping our economy. We are taking measures to put our economy on the right track," said the Greek leader.

Earlier on Tuesday, the White House said Greece's fiscal crisis "can and should" be resolved by the European Union.

"This is an issue for the European Union," said White House spokesman Robert Gibbs. "They have and possess the capabilities to solve that."

In a speech delivered on Monday, Papandreou called on the international community to restrict speculative trading, saying such act "imperils not only Greece, but the entire global economy."

"Despite the deep reforms we are making, traders and speculators have forced interest rates on Greek bonds to record highs," said Papandreou in the speech at the Brookings Institution.