Obama says Europe must act "fast" to tackle crisis

President Barack Obama on Thursday urged Europe to act fast to tackle a potentially devastating debt crisis but warned the euro zone will not be able to export its way out of trouble.

Obama, in a wide-ranging press conference, also said that he hoped the common currency bloc's leaders will have put a concrete plan in place by the time of the next meeting of Group of 20 wealthy nations in France early next month. (Reuters)