Greek prime minister urges US to crackdown on speculators
Greek Prime Minister George Papandreou, accompanied by White House chief of protocol Capricia Marshall, arrives at the White House in Washington, Tuesday, March 9, 2010, for a private meeting with President Barack Obama

Greek prime minister urges US to crackdown on speculators

Mar 9, 2010 at 23:40
WASHINGTON (AP) — Greek Prime Minister George Papandreou says President Barack Obama reacted positively in a meeting Tuesday to European ideas about cracking down on currency speculation.

Papandreou says he outlined European proposals in his White House meeting. He says the issue would be discussed at the next meeting of the Group of 20 summit of leading and emerging economies in June.

Earlier Tuesday, European officials urged the U.S. to curb certain financial instruments.

A market frenzy in recent weeks saw traders make bets worth billions of dollars against the euro and on the chances of Greece not repaying its massive debts. Those market worries have undermined the 16-country currency.