According to the Independent, “British Government sources” are saying that the Obama administration is begging European leaders to keep Greece in the euro fold until after November:
American officials are understood to be worried that if they decide Greece has not done enough to meet its deficit targets and withhold the money, it would automatically trigger Greece’s exit from the eurozone weeks before the Presidential election on 6 November.They are urging eurozone Governments to hold off from taking any drastic action before then – fearing that the resulting market destabilisation could damage President Obama’s re-election prospects. European leaders are thought to be sympathetic to the lobbying fearing that, under pressure from his party in Congress, Mitt Romney would be a more isolationist president than Mr Obama.
Via Meadia hopes this isn’t true because we’d hate to think any U.S. president would do something so clueless and self-serving. We know that if an administration were weak-minded enough to try something like this, European contempt for the White House team would only grow.