Euro Crisis: Obama acknowledges “difficult challenges” for Spain

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The White House has stated that Spain faces “difficult challenges” following a discussion between President Obama with Spanish Prime Minister Mariano Rajoy.

European markets have responded positively and the euro close to a five-year high.

President Obama and the Spanish Prime Minister’s talk follows earlier discussions with French President Francois Hollande and Prime Minister Mario Monti.

In a statement the White House the said the President “welcomed the recent declarations by the European Central Bank and European leaders on the need to do what is necessary to preserve the eurozone” and “encouraged their efforts to take the decisive action”.

–          Clem Chambers is the author of 101 Ways to Pick Stock Market Winners, out now on Kindle.

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