Europe's disappointment with Barack Obama's presidency is laid bare today as the EU's most senior figure calls for a dramatic effort to revive transatlantic relations.

The President of the European Commission told The Times that the new era at the White House was in danger of becoming a "missed opportunity" for Europe.

Jos? Manuel Barroso said that the EU-US relationship was "not living up to its potential" and was being marred by fundamental disagreements on how to deal with the economic crisis, climate change and trade reform.

The feelings of a deepening rift are mutual. Senior US figures said last night that Mr Obama could never live up to Europe's sky-high expectations.
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A German government official said: "If our austerity cuts lead to street demos, the protesters will be shouting out phrases they heard from Obama. How do you think that makes us feel?"