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Obama says Greek economy needs space, debt relief for growth

Tuesday, November 15, 2016 - 01:52

Greek Prime Minister Alexis Tsipras says his country cannot take more austerity after seven years of recession and U.S. President Obama says their economy needs ''space'' to return to growth again. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) STORY: Greece cannot take more austerity after seven years of recession and requires "substantive" debt relief, Prime Minister Alexis Tsipras said on Tuesday (November 15) after meeting U.S. President Barack Obama. Obama is visiting Athens on Nov. 15-16 on his last foreign tour as president. Athens is hoping Obama will help persuade its international creditors to restructure its debt, the Euro zone's biggest. Obama said the U.S. stood 'shoulder to shoulder' with Greece, acknowledging the crisis-hit country had made progress on economic adjustment, but had challenges ahead. "Greece has gone through very challenging and dramatic times over the last several years. It has been the policy of my administration to do everything we can to work with the Greek government and the Greek people to restore growth, optimism, to alleviate hardship," Obama told Greek President Prokopis Pavlopoulos in Athens. "We are glad to see that progress is being made although we recognize that there are significant challenges ahead, and we intend to stand shoulder to shoulder with the Greek people throughout this process," Obama said.

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Obama says Greek economy needs space, debt relief for growth

Tuesday, November 15, 2016 - 01:52