Reuters: Regulatory News: Obama urges European leaders to act quickly on crisis

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Obama urges European leaders to act quickly on crisis Jun 8th 2012, 15:05 WASHINGTON, June 8 | Fri Jun 8, 2012 11:05am EDT WASHINGTON, June 8 (Reuters) - U.S. President Barack Obama said European leaders face an "urgent need to act" to resolve the region's financial crisis, saying they need to inject capital into weak banks "as soon as possible." "These decisions are fundamentally in the hands of Europe's leaders and fortunately they understand the seriousness of the situation and the urgent need to act," Obama told a news conference on Friday. He also urged the U.S. Congress to pass measures to strengthen the American economy, which he said could be hit by a possible recession in Europe.

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