It emerged yesterday (27 October) that leaders in the eurozone had reached an agreement on how they were going to combat the ongoing issues in the area, with measures including boosting bank capital buffers and helping Greece overcome its problems.
And, in an article for the Financial Times, President Obama said that while the indication that uncertainty might be coming to an end was having a positive impact on global markets, it is now vital for officials to put their plans to work, Reuters reports.
Mr Obama asserted that "the crisis in Europe must be resolved as quickly as possible", before noting that this latest development represents a "critical foundation on which to build".
However, he went on to urge eurozone leaders to actively create a "credible firewall" to the problem as quickly as possible.
By Claire Archer