Obama: Europe recession would affect US recovery

WASHINGTON - US President Barack Obama said on Friday a recession in Europe would affect the pace of the US recovery, and said Washington is being careful not to "scold" Europe or tell European leaders what to do.
However, he said the US financial system has been put on a much more solid footing and can absorb shocks from Europe.
"They can absorb some of the shocks that come from across the Atlantic," Obama told reporters.
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