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Trump's presidency is likely to face its first Eurozone test within a few months with an imminent default by Greece on its outstanding obligations. But unlike President Obama, Trump seems to have no plan on how to control the current financial turmoil, which could prove more severe than in 2010-11, when several European economies were deemed unreliable by the financial markets.

Back then, as the European Union leaders themselves later admitted, the Obama administration played a crucial role in ensuring the stability of the Eurozone. In 2010, financial markets considered certain Eurozone economies such as Greece financially unstable and refused to provide them with new loans. The White House adopted a stance of interconnectedness between the economies on the two sides of the Atlantic, arguing it would have been impossible for the American economy to return to prosperity and growth after the financial crisis 2008 had Europe allowed economies to default. The U.S. addressed this uncertainty with its most powerful instrument: the International Monetary Fund (IMF). The IMF's active involvement in European rescues meant that many countries, such as Greece, became indirectly supported by the U.S.

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