On Thursday, President Barack Obama said that Europe would be much better off had it just mimicked Mr. Obama’s economic moves:

“We’ve still got headwinds. Europe is still … in a difficult state, partly because they didn’t take some of the decisive steps that we took early on in this recession,” said Mr. Obama at a private 70-person fundraiser in Seattle, Washington.

It’s unclear exactly which “decisive steps” Mr. Obama was referring to. A senior administration official told Reuters that Mr. Obama was likely referring to “early stress tests on banks, requirements that banks bolster their capital cushions and an aggressive early response by the Federal Reserve, the U.S. central bank.”

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