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Post by bot on Sept 19, 2011 17:45:19 GMT -5
Merkel pledges 'concerted action' to Obama WASHINGTON (MarketWatch) -- U.S. President Barack Obama and German Chancellor Angela Merkel on Monday spoke by phone as doubts re-emerged in markets as to the likelihood of Greece defaulting. According to a White House statement, the two leaders agreed "concerted action would be needed in the months ahead to address the current economic challenges and to assure global economic recovery." Merkel's party was defeated in a regional election over the weekend, in a result seen as making Germany even more reluctant to participate in any Greek rescue effort.
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