Wall Street Journal
May 30, 2012
Top officials in the Obama administration have long held talks with European leaders about the ongoing debt crisis, but discussions are reaching a new level this week as problems in Greece and Spain appear to be escalating.
Earlier in the week, the Treasury Department dispatched its top economic diplomat – Lael Brainard – to Greece, France, Spain and Germany for talks with European leaders. She is expected to stay until at least the end of the week.
On Wednesday, President Barack Obama held a videoconference with German Chancellor Angela Merkel, French President Francois Hollande, and Italian Prime Minister Mario Monti.
“They discussed developments in Europe, following up on the discussions held at the G-8 Camp David Summit and at the informal meeting of European Union Leaders last week,” the White House said, offering little else.
Meanwhile, Treasury Secretary Timothy Geithner, who has been actively involved in talks with European leaders for more than three years, is meeting Thursday with Spanish Vice President Soraya Saenz de Santamaria. Mr. Geithner is also meeting Thursday with Mr. Obama at the White House.