Market turmoil to continue over Europe: Barack Obama

CANBERRA: United States President Barack Obama on Wednesday said he was deeply concerned about the euro zone crisis and market turmoil would continue until Europe has a concrete plan to deal with its debt crisis.

"Until we put in place a concrete plan and structure that sends a clear signal to the markets that Europe is standing behind the Euro and will do what it takes, we are gong to continue to see the kinds of market turmoil we saw," Obama told a media conference in the Australian capital of Canberra.

Asian shares and the euro fell on Wednesday on continued uncertainty over the euro zone debt crisis, and an unclear outlook for struggling Italy and Greece to implement austerity measures needed to win market confidence.