Reuters: Politics: Obama warns of economic 'headwinds,' sees euro surviving

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Obama warns of economic 'headwinds,' sees euro surviving Jul 31st 2012, 00:38 Tweet Share this Email Print Related News Euro zone crisis heads for September crunch Sun, Jul 29 2012 Spain feels debt heat, Greece way off bailout terms Thu, Jul 26 2012 Special Report: Obama's struggle to mend veterans' safety net Thu, Jul 26 2012 As election approaches, candidates beef up spending Sat, Jul 21 2012 Euro falls as Spain's bank woes, weak U.S. data haunt Thu, Jul 19 2012 Analysis & Opinion Was Geithner 'forceful' on Libor? Obama’s not the trustbuster he thought he would be Related Topics Politics » Euro Zone » Barack Obama » Election 2012 » United States President Barack Obama departs the White House in Washington July 30, 2012. Credit: Reuters/Gary Cameron NEW YORK | Mon Jul 30, 2012 8:38pm EDT NEW YORK (Reuters) - President Barack Obama warned on Monday the U.S. economy would face continuing "headwinds" over the next few months, with Europe's debt crisis still posing a challenge, but predicted the euro zone and its currency would remain intact. "I don't think ultimately that the Europeans will let the euro unravel but they are going to have to take some decisive steps," Obama said at a campaign fundraiser in New York. "I am spending an enormous amount of time trying to work with them, and (Treasury Secretary) Tim Geithner is trying to work with them," he said. "The sooner they take some decisive action, the better off we're going to be." Obama's re-election bid is threatened by high U.S. unemployment and a stumbling economy, which has felt shockwaves from Europe's debt troubles. "Right now, the economy is still rough enough for enough people that this is going to be a close election," Obama said. Polls show him in a dead heat with Republican challenger Mitt Romney ahead of the November 6 election. U.S. economic growth slowed in the second quarter to a 1.5 percent annual rate, the weakest pace in a year, the Commerce Department said on Friday. "We're going to have some continued headwinds over the next several months," Obama said. "Europe is still a challenge." (Reporting by Margaret Chadbourne, writing by Matt Spetalnick; editing by Todd Eastham) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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