Obama Says Greeks Must Make Tough Political Choices

U.S. President Barack Obama said on Monday that Greeks need to make some “tough political choices” and embrace difficult economic reforms to win a debt deal with their country’s international creditors.

Obama denied a report by an unidentified French official that he had voiced concern about the strength of the dollar in a discussion of the world economy at a summit of the Group of Seven industrialised democracies in Germany.

“I did not say that and I make it a practice of not commenting on the daily fluctuations of the dollar or any other currency,” he told a news conference.

On Greece, Obama said: “The Greeks are going to have to follow through and make some tough political choices that will be good for them long-term.” At the same time, international lenders should “recognise the extraordingary challenges” that Greece faces and show flexibility to get a deal.

via Reuters

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza