European growth still on US agenda, not as loudly

Associated Press + More

By JIM KUHNHENN, Associated Press

WASHINGTON (AP) — A year after President Barack Obama made an emphatic pitch to Europe's economic powers to focus more on economic growth than austerity, much of the eurozone remains mired in or near recession. Obama's appeals have had mixed results in softening the demands on some of the most debt-ridden European nations to cut their spending.

Still, the region's crisis is no longer perceived as an urgent threat to the global economy. And while the U.S. still wants Europe to temper debt trimming, Obama isn't expected to be as insistent with other G-8 leaders when they meet in Northern Ireland next week.

These days, high-debt nations have been given more time to work on their fiscal cuts, and Obama administration officials believe that the modest U.S. recovery offers lessons for Europe.

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