Obama: Europe must Coordinate its fiscal policies

European leaders must develop a "more effective set of coordinated fiscal policies" to deal with the crises facing the eurozone, US President Barack Obama said Monday. Speaking to the German Press Agency's (DPA) Spanish service and other international media in the Roosevelt Room at the White House, Obama noted that the US was working with European leaders to help resolve the crisis. The US president noted the increasingly global nature of the economy, and how European problems as well as those elsewhere in the world have "enormous impact on the Americas, our entire hemisphere, not just the United States."