President Barack Obama discussed the situation in Europe with the leaders of the three largest euro-area economies to prepare for a Group of 20 meeting on the global economy in June.
Obama, German Chancellor Angela Merkel, French President Francois Hollande and Italian Prime Minister Mario Monti talked about “developments in Europe” in a videoconference, the White House said in a statement late yesterday. “Leaders agreed to continue to consult closely as they prepare to meet at the G-20 summit in Mexico next month.”
The call yesterday followed up on talks at the Group of Eight summit this month and a European Union summit last week, according to the White House. The euro area’s debt crisis was the main economic topic at both meetings, with Obama prodding Merkel at the G-8 talks in Camp David, Maryland, to move ahead on measures to balance her budget-austerity drive with measures to spur growth.