During a bilateral meeting with Prime Minster Petr Necas of the Czech Republic, President Obama was asked if he believed that the European debt agreement reached late Wednesday would be enough to prevent another recession.
"There's no doubt that it's progress," Obama said. "So the key now is to make sure that there is strong follow-up, strong execution of the plans that have been put forward. But I was very pleased to see that the leaders of Europe recognize that it is both in Europe's interest and the world's interest that the situation is stabilized."
He continued, "The key now is just to make sure that it drives forward in an effective way. It will definitely have an impact on us here in the United States. If Europe is weak, if Europe is not growing, as our largest trading partner, that's going to have an impact on our businesses and our ability to create jobs here in the United States."