Obama: Europe crisis 'scaring the world'

President Barack Obama addresses the 66th session of the United Nations General Assembly, Wednesday, Sept. 21, 2011. (AP Photo/Richard Drew)

September 26, 2011 12:31:04 PM PDT
President Barack Obama says the financial crisis rippling through Europe is "scaring the world" and that steps taken by European nations to stem the eurozone debt problem "haven't been as quick as they need to be."

Speaking at a town hall hosted by LinkedIn, Obama said Europe never fully healed from the financial crisis in 2007. He said Europe's troubles have spilled beyond the continent and are affecting the U.S. economy as well.

Obama's comments were in response to a question posed by a laid-off worker.

Obama's reference to the European debt crisis came on the heels of remarks by Treasury Secretary Timothy Geithner (GYT'-nur) this weekend urging governments to unite with the European Central Bank to help defuse the "most serious risk now confronting the world economy."

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