Bloomberg News

Obama and Merkel Discuss European Economic Crisis in Phone Call

October 14, 2011

Oct. 14 (Bloomberg) -- President Barack Obama spoke with German Chancellor Angela Merkel about the “evolving financial situation in the eurozone,” White House press secretary Jay Carney said.

During the phone call today, the two “agreed to stay in close contact” ahead of the Group of 20 nations summit next month, Carney said in a statement.

European bank stocks have fallen as borrowing costs climbed amid rising concern that the banks may have to take greater losses on debt issued by Greece, Italy, Ireland, Portugal and Spain.

Obama will meet with other G-20 leaders Nov. 3-4 in France.

--With assistance from Christine Harper in New York, Aaron Kirchfeld in Frankfurt, and John Glover in London. Editors: Jim Rubin, Fred Strasser.

To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net


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