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Hours after Greece secured a bailout to avoid debt default, the US President, Mr Barack Obama, called the German Chancellor, Ms Angela Merkel, to discuss the latest developments concerning the financial situation in the Eurozone, the White House said.
“The President thanked the Chancellor for her leadership and welcomed last night’s agreement in Europe on a new rescue program for Greece to help reduce its debt to sustainable levels,” the White House said in a statement.
Mr Obama and Ms Merkel agreed that the planned EU fiscal pact, recent actions by the European Central Bank and reforms by Spain and Italy have also been positive steps in addressing the Eurozone crisis.
The two leaders also discussed preparations for the upcoming G-8 Summit and agreed that emphasis should be on growth and jobs, the White House said.
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