Now Obama pressures Spain over cuts after whispers he advised Merkel on saving the euro

Who's running Europe?

Barack Obama is pressuring Spain to make austerity cuts as the European debt crisis rumbles on, it has emerged.

The U.S. President has also been credited with helping to save the Euro, after giving advice to European leaders on how to handle the debt crisis.

U.S. officials have been adamant that Europe must take the lead in resolving the crisis.

But amid fears for the impact on the American economy, behind closed doors the U.S. has been taking a far more active role.

Mr Obama and his aides have privately pressured European leaders to take bold action to calm the storm in financial markets.