President Obama speaks from G20 Summit and cites consensus

[BirminghamExaminer]

Excerpt:

Both France and Germany have shown a reluctance to commit to a stimulus of the economy which both the U.K. and the U.S. have been urging. France's President Sarkozy's focus has been on international regulation and two days ago he threatened to walk out of the summit if he didn't get the international regulations of the banking system he wants. There are divisions in how to tackle the economic crisis but the G20 leaders are committed to creating solutions.

The heads of 20 nations came together today to come to a consensus about how to proceed to address the struggling economy. UK Prime Minister Gordon Brown spoke after the G20 summit end. Brown said, "We've agreed to tough standards and sanctions against those who don't come into line in the future. And we will implement new rules on pay and bonuses." President Obama explained in more detail in his speech that follows.

(video)

Following President Obama's speech, he fielded questions from journalists. It was clear the President is suffering from a cold. The President was relaxed and confident as he answered a variety of questions on a variety of subjects. When a Chinese journalist asked if the President had come up with a "catch phrase" that characterized the relationship between the U.S. and China, citing President Clinton's, "strategic, constructive, partnership" and President Bush's, "stakeholder," President Obama's response drew laughter. The President said, "I'm terrible with those little catch phrases and sound bites. So I haven't come up with anything catchy yet but if you have any suggestions, let me know."

For entire article and to view President Obama's speech following G20 Summit, go here.