Obama: full world economic recovery 'a ways off'

Published: Friday, July 10, 2009 7:39 a.m. MDT
 |  E-MAIL | PRINT | FONT + - 

L'AQUILA, Italy — A lasting worldwide economic recovery "is still a ways off," President Barack Obama declared Friday, but he also said at the conclusion of a global summit that a disastrous economic collapse apparently has been averted.

Speaking at the end of the Group of Eight summit of major economic powers, Obama said world leaders had taken significant measures to address economic, environmental and global security issues.

He rejected suggestions that the summit fell short of expectations by failing to call for new tough sanctions on Iran for its crackdown on democracy advocates after its disputed presidential election.

"What we wanted is exactly what we got — a statement of unity and strong condemnation," Obama told a news conference. He said the leaders' declaration was even more significant because it included Russia, "which doesn't make statements like that lightly."

He said world leaders will reevaluate their posture toward Iran at a meeting in Pittsburgh in September of the world's 20 major industrial and developing economies.

Obama told reporters that leaders "remain seriously concerned about the appalling events of Iran's presidential election." He said the world would "take stock of Iran's progress" and watch its behavior.

Story continues below

Leaders have made clear that for Iran to take its "rightful place" in the world, the country must adhere to international standards and behave responsibility, Obama said.

On a pressing issue back home, Obama acknowledged that his top legislative priority — health care overhaul — had encountered rocky going in Congress during his overseas trip, with opposition building among both Republicans and economically conservative Democrats.

But he said he still hopes to get the measure passed before Congress begins its August recess.

"I'm confident we're going to get it done," he said. Asked if his timetable was "do or die," Obama responded: "I never believe anything is do or die. But I want to get it done by the August recess."

Obama, six months in office, said he supports a streamlining of summits — the G-8, G-20 and NATO — and attending fewer of those meetings. He said the United Nations is in need of reform, but international summits fill a gap left by a U.N. structure that doesn't leverage its power as effectively as it could.

Recent comments

EVERYONE DUCK, here comes another feeding frenzy of ........ OH OH,...

Anonymous | July 10, 2009 at 12:49 p.m.

When President Barack Obama tells us, that a lasting worldwide...

Brother Chuck Schroeder | July 10, 2009 at 12:23 p.m.

All you geniuses. After five months, you expect the economy to turn...

Anonymous | July 10, 2009 at 10:14 a.m.

Image
Andrew Medichini, Associated Press

From left, French President Nicolas Sarkozy, Italian Prime Minister Silvio Berlusconi, Russian President Dmitry Medvedev and President Barack Obama at the G8 summit, in L'Aquila, Italy, Friday.

previousnext

Latest comments

RSL's Rimando makes 3

So Great!!! So Proud - Love RSL - Bring Home The CUP!!!!!

mr cannon's bold assertation that the purpose of the first ammendemnt as...

RSL heads to MLS title game

Great great great game!!!! Nicky Rimando is a god! We're the most complete...

I had the game on DVR and just watched it. That was the most exciting game...

RSL heads to MLS title game

financially cannot this year, but I will watch loyally, how great to hear...

This is hardly surprising. Bennett has a remarkable arrogance which is also...

RSL heads to MLS title game

I guess that is why "they play the game" as Herman Edwards would say.. ...

BYU happy to escape with victory

What was the score of the LSU vs LA tech game? Alot closer than you'd like to...

Has Fedor not said that THIS IS OUR YEAR all year long? Go back and...

This is just a small glimpse of the future with Obamacare: corruption, waste...

Advertisements
Advertisement