Obama says the world has avoided an economic collapse
L'AQUILA, Italy — Lasting worldwide 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.
Obama said world leaders had taken significant measures to address economic, environmental and global security issues.
"Reckless actions by a few have fueled a recession that spans the globe," Obama said of the meltdown that began in the United States with a tumble in housing prices and drastic slowing of business lending. The downturn now threatens superpowers and emerging nations alike.
Obama urged national leaders to unite behind a global recovery plan that includes stricter financial regulation and sustained stimulus spending.
"The only way forward is through shared and persistent effort to combat threats to our peace, our prosperity and our common humanity wherever they may exist. None of this will be easy," Obama told a news conference at the end of the Group of Eight summit of major economic powers.
The president rejected suggestions that the summit fell short of expectations by failing to call for tough new sanctions on Iran for its crackdown on democracy advocates after its disputed presidential election.
"What we wanted was exactly what we got, which is a statement of unity and strong condemnation," Obama said. He said the leaders' declaration was even more significant because it included Russia, "which doesn't make statements like that lightly."
Obama said world leaders will re-evaluate their posture toward Iran at a meeting in Pittsburgh in September of the world's 20 major industrial and developing economies.
He cited "the appalling events surrounding the presidential election" and said the world would "take stock of Iran's progress" and watch its behavior.
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.
The president was next turning to more photogenic events: a meeting with the pope and a stop in Africa.
Obama, his wife and senior advisers met Pope Benedict XVI and exchanged gifts shortly before leaving Italy late Friday. The 30-minute meeting Vatican audience was described by both sides as positive — constructive talks between two men who agree on helping the poor and pushing for Middle East peace but disagree on what the Vatican considers prime ethical issues.
"It's a great honor," Obama said, greeting the pope and thanking him for this first meeting.
Recent comments
suffers from a terrible case of 'god complex' wherein he thinks he is...
bama | July 11, 2009 at 12:42 p.m.
"Mission Accomplished"
Steve | July 11, 2009 at 12:40 p.m.
He is not the savior, nor is he about to save us from economic...
KM | July 11, 2009 at 9:41 a.m.
- Sen. Dems at odds over health bill 1:17 p.m.
- Arrest in suspected child abuse 1:13 p.m.
- Mammogram guidelines spark debate 12:57 p.m.
- Man dies after SUV backs over him 12:39 p.m.
- At 6-5, hard time arguing firing Weis 12:24 p.m.
- $27M transfer for state Route 193 12:20 p.m.
- 'Christmas With King Family' DVD 12:16 p.m.
- Youn men help fill food-pantry needs 12:15 p.m.
- Who is Oprah's heir apparent? 11:39 a.m.
- Florida No. 1, TCU 4 in AP Top 25 11:34 a.m.
- Glenn Beck to enter politics?
- BYU records with win
- Jazz outlast Pistons in overtime
- Police link alcohol to murder
- Cougars turn focus to dreaded rivals
- Utah Utes whip SDSU
- Former BYU professor remembered
- Cougars put the fun back in football
- Kirilenko heating up for the Jazz
- Y. coach Hill up for Portland State job
- Buttars wants to limit gay rights laws
194 - Palin plans tour stop in Utah
173 - Glenn Beck to enter politics?
166 - Palin's book shows she's unqualified
122 - BYU records with win
116 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
100 - Jazz finally win in San Antonio
98 - Utes knock off rival Aggies
93 - Huntsman pleased with Obama
87
I don't pretend to be an expert on global warming. I've met with...
Reading the letter, I am not sure that it is eating that is the sin, but...
The media that Sarah criticizes so much is the same force that is providing...
We'll be back next year. I know it, and I hope that all of our coaches and...
This year TCU has proven to the world how weak the MWC is (MWC=WAC). BYU and...
I have no problem with religious people voting their conscience. I do,...
I have to agree that the comment about "the pesky seniors" is uncalled...
I was in my Latin class in High School in California. Our teacher hadn't...
Glenn Beck is Oprah's heir apparent since he has a larger following and can...
of atheism just as morally equal to spreading the Gospel of Christianity. To...
Yes, 40% of doctors polled said they will definitely or seriously consider...


