US President Barack Obama and his government, along with the New York banking industry, have been closely following the European Union’s efforts to straighten up its sovereign-debt problems during the past two years.

This week, however, President Obama, meeting in the White House with European Council President Herman Van Rompuy and European Commission President José Manuel Barroso went a step further, in clarifying that his country would not stand idly by merely watching Eur...


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