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Mar 11,2009
Obama urges global unity to jolt economy
by UPI

WASHINGTON - The United States will ask its allies to help jolt the international economy during the Group of 20 economic summit, President Barack Obama said Wednesday.

"We've got two goals in the G20," Obama said during a media availability with Treasury Secretary Tim Geithner. "The first is to make sure that there is concerted action around the globe to jump start the economy. The second goal is to make sure that we are moving forward on a regulatory reform agenda that ensures that we don't see these kinds of systemic risks and the potential for this kind of crisis again in the future."

The United States can't just think about what's happening within its borders, "we also have to be mindful of what's happening overseas," he said.

"We can do a really good job here at home with a whole host of policies," Obama said, adding that some discussions have been conducted already, "but if you continue to see deterioration in the world economy, that's going to set us back."

Geithner said he would leave for Europe on Thursday to meet with G20 finance ministers and central bank governors in advance of next month's summit in London.

"We need to bring the world together to put in place a very substantial and sustained program of support for recovery and growth," he said. "And we want to bring together a new consensus, globally, on how to strengthen this global financial system so that a crisis like this never happens again."

© 2009 United Press International. All Rights Reserved.

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