WASHINGTON (AP) ? President Barack Obama heads an economic summit in the French resort of Cannes (kan) this week, no longer as the rock star he once was internationally, but as the leader of the world’s largest economy vulnerable to an unfolding European debt crisis.
Obama is urging quick action by the Europeans to contain the financial crisis in Greece. But there is little the United States can do to resolve the potential emergency. He and his administration say they are confident Europe has the resources and the capacity to resolve their own problems.
Obama has been pushing for rebalancing global economic growth, a goal that will be overshadowed at the Group of 20 summit by the more immediate European issues.