Use 'overwhelming force' to fix crisis, US tells EU
The United States urged Europe on Thursday to use "overwhelming force" to fix the sovereign debt crisis threatening to tip the world economy into recession.
White House economic advisor Mike Froman, speaking as the Group of 20 summit opened in Cannes said Washington had used its experience in the 2008 global financial crisis to advise Europe on how to handle its own woes.
"From our own experience ... of dealing with the 2008-2009 financialcrisis, we have a number of lessons to be shared with the Europeans," said Froman, President Barack Obama's deputy national security advisor for international economic affairs.
Eurozone leaders agreed last week to bail out Greece for a second time so as to prevent the debt crisis from spreading to other countries.
"There are many different ways of being supportive," he told a briefing.
"It is our belief that our ability to contribute, our ability to lead, and our ability to influence the outcome of these sorts of issues is not tied necessarily to having the American taxpayer pay for every problem."
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