US officials are worried that if Greece exits the eurozone, it will damage President’s election hopes
The Obama administration will pressure European governments not to let Greece fall out of the eurozone before November’s Presidential elections, British Government sources have suggested.
American officials are understood to be worried that if they decide Greece has not done enough to meet its deficit targets and withhold the money, it would automatically trigger Greece’s exit from the eurozone weeks before the Presidential election on 6 November.
They are urging eurozone Governments to hold off from taking any drastic action before then – fearing that the resulting market destabilisation could damage President Obama’s re-election prospects. European leaders are thought to be sympathetic to the lobbying fearing that, under pressure from his party lin Congress, Mitt Romney would be a more isolationist president than Mr Obama.
The President discussed the eurozone crisis with David Cameron during a conference call on Wednesday and both welcomed statements by the European Central Bank that it was “standing firmly behind the euro”.
Full article: Barack Obama asks eurozone to keep Greece in until after election day (The Independent)