Greek PM calls up Obama to discuss debt crisis

Greece's Prime Minister Alexis Tsipras talks to the media as he leaves an emergency euro zone summit in Brussels, Belgium on July 7, 2015.

U.S. President Barack Obama has asked the European and Greece leaders to strike a deal on the debt crisis that can benefit the global economy as a whole.

Greek Prime Minister Alexis Tsipras phoned President Obama on Tuesday and briefed him about the crisis.

“The President received an update from Prime Minister Tsipras on his ideas for a path forward between Greece and its creditors,” the White House said in a statement.

Mr. Obama reiterated that it is in everyone’s interest that Greece and its creditors reach a mutually-acceptable agreement, the statement said.

He also spoke with German Chancellor Angela Merkel about Greece debt crisis and the two leaders agreed that it is in everyone’s interest to reach a durable agreement that will allow Greece to resume reforms, return to growth, and achieve debt sustainability within the Eurozone, the White House said.

“The leaders noted that their economic teams are monitoring the situation in Greece and remain in close contact,” it said.

“The conversations reflected the view that all parties continue to acknowledge that it’s in their collective and mutual interest for Greece to remain part of the Eurozone,” White House Press Secretary Josh Earnest told reporters.

“But the only way that we’ll succeed in achieving that goal is for all of the parties to agree to a package of reforms and financing that puts Greece back on a path toward economic growth and debt sustainability,” he said.

“That is the solution here. I don’t mean to suggest that because it’s easy to articulate the solution, that it’s easy to agree to a solution,” he said.

“In fact, this is quite complicated. But we continue to take heart in the fact that everyone who’s sitting around that table acknowledges that it’s in their collective interest for this to be resolved in that way,” Mr. Earnest said.

“So we’re going to continue to encourage all sides to participate constructively in those conversations. Obviously the fact that they’re meeting right now as we speak is good because it’s necessary for an agreement to be reached,” the spokesperson said.