WASHINGTON Nov 1 The sudden decision by Greek
Prime Minister George Papandreou to hold a referendum on the
country's financial rescue shows that Europe must act fast to
tackle the debt crisis, the White House said on Tuesday.
"The decision made by the Greek prime minister ... just
reinforces the notion that ... the Europeans need to elaborate
further and implement rapidly the decisions they made last
week," said White House press secretary Jay Carney.
Financial markets shuddered on both sides of the Atlantic
on concerns that a 'no' vote could lead to Greek bankruptcy
after Papandreou shocked his own country, and his European
colleagues, with his announcement that came days after Europe
hammered out the outline of a second Greek bailout.
Washington worries that continued failure to confront
Europe's problems could trigger much wider financial market
turmoil, undermining a fragile recovery underway in the United
States and inflicting recessions on both sides of the
"It remains the case that the Europeans have the capacity
to deal with this crisis. and they need to implement the very
important decisions they made last week," Carney said.
President Barack Obama heads to France on Wednesday evening
for a meeting of G20 leaders in Cannes at which the European
debt crisis will be the central focus. He holds bilateral
meetings with French President Nicolas Sarkozy and German
Chancellor Angela Merkel shortly after he arrives on the French