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Republican candidates: no U.S. bailout of Europe
November 10, 2011 / 1:51 AM / in 6 years

Republican candidates: no U.S. bailout of Europe

WASHINGTON, Nov 9 (Reuters) - Leading Republican candidates for the U.S. presidency said on Wednesday the United States should stay out of the financial problems in Europe and resist any calls for direct infusions of cash.

U.S. shares lost more than 3 percent on Wednesday on fears the fiscal woes in Greece and Italy would spill over to harm the world economy.

A pledge by Italian Prime Minister Silvio Berlusconi to step down failed to reassure bond markets that Rome had the will to bring its debt under control, and European stocks also fell.

Debating in Michigan, Republican candidates Mitt Romney, a co-founder of Bain Capital, and former pizza executive Herman Cain both said Europe should take care of itself.

“Europe is able to take care of their own problems. We don’t want to step in and try and bail out their banks and bail out their governments,” Romney said.

“There is not a lot that the United States can directly do for Italy right now because they are way beyond the point of return,” Cain said.

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