Obama speaks to Greek PM about debt crisis

David Jackson | USA TODAY

WASHINGTON — President Obama urged the leaders of Greece and Germany to strike a deal on the Greek debt crisis that can benefit the global economy as a whole, officials said Tuesday.

"It's necessary for an agreement to be reached," said White House spokesman Josh Earnest.

Earnest confirmed that Obama spoke by phone Tuesday with Greece Prime Minister Alexis Tsipras and German Chancellor Angela Merkel, a key figure in debt talks.

Obama received an update on Greece's financial situation during the phone call with Tsipras, the White House said in a statement.

For his part, the president "reiterated that it is in everyone's interest that Greece and its creditors reach a mutually-acceptable agreement," the statement said.

As for the call with Merkel, the White House said she and Obama cited the need for "a durable agreement that will allow Greece to resume reforms, return to growth, and achieve debt sustainability within the Eurozone. The leaders noted that their economic teams are monitoring the situation in Greece and remain in close contact."

For days, Obama has urged Greece and the European Union to reach a settlement on Greek's debt. Obama has also been in contact with European leaders, such as Merkel and French President Francois Hollande.

An agreement should include "a package of reforms and financing that puts Greece back on a path toward economic growth and debt sustainability," Earnest said.

Reaching a financial agreement "is quite complicated," Earnest said, but it is in the world's best interest.

"We continue to take heart in the fact that everyone who is sitting around that table acknowledges that it's in their collective interest for this to be resolved," Earnest said. "We're going to continue to encourage all sides to participate constructively in those conversations."