Obama supports end of austerity
- Written by E.Tsiliopoulos
Alexis Tsipras will be adding Barack Obama's name to the growing list of people advocating an end to austerity as a solution for Greece's problems.
"‘You cannot keep on squeezing countries that are in the midst of depression," he told CNNs Fareed Zakaria. "At some point there needs to be a growth plan."
While he noted that there had been serious problems in Greece that needed to be addressed for the country to become competitive, he said that from the US's experience, "The best way to reduce fiscal deficits and restore fiscal soundness is to grow."
Obama said that he hoped that Greece would remain in the Eurozone and said that for that to happen compromises would have to be made 'on all sides.'
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