Obama 'deeply concerned' at Europe market turmoil | The Daily Star
12:00 AM, November 17, 2011 / LAST MODIFIED: 12:00 AM, November 17, 2011

Obama 'deeply concerned' at Europe market turmoil

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US President Barack Obama Wednesday said he was "deeply concerned" at the turmoil in the eurozone that has spooked global markets amid growing fears about Europe's debt crisis and anaemic growth.
"I am deeply concerned and I have been deeply concerned. I suspect I will be deeply concerned tomorrow and next week," he said at a press conference with Australian Prime Minister Julia Gillard in Canberra.
Obama spoke as European leaders struggle to address the continent's public debt woes, which continue to roil global markets and weigh on the euro.
While new prime ministers in debt-ridden Italy and Greece have offered investors hope they can solve their fiscal woes, traders remain nervous as their cost of borrowing hits new peaks.
Adding to the grim picture Tuesday were figures showing the 17-nation bloc grew just 0.2 percent in the third quarter.
In Asia on Wednesday, stock markets in Tokyo, Sydney, Seoul and Hong Kong were all lower while the euro lost further ground against the dollar.

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