A proposal for a second Greek bailout package worth 80 billion to 100 billion euros over three years was taking shape, euro zone sources said.

Merkel, under political pressure at home to avoid being the financial savior for other struggling European countries, said Germany understood its role.

“We’ve seen that the stability of the euro as a whole will also be influenced if one country is in trouble,” she said.

“So we do see clearly our European responsibility and we’re shouldering that responsibility, together with the IMF.” With U.S. unemployment at 9.1 percent, Obama has blamed outside forces for impeding the economy, including high fuel prices, the earthquake in Japan and the euro zone crisis.