Obama Says Greeks Must Make Tough Political Choices

June 8, 2015 Share Print 0

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

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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.