WASHINGTON (AFP) — US President Barack Obama hailed the "real and unprecedented progress" made at meetings with world leaders in Europe this week in an address to the nation Saturday.
"As we have worked this week to find common ground and strengthen our alliances, we have not solved all of our problems. And we have not agreed on every point or every issue in every meeting," Obama said in his weekly radio address.
"But we have made real and unprecedented progress -- and will continue to do so in the weeks and months ahead."
On Thursday, the Group of 20 developed and emerging economies agreed at a meeting in London to commit one trillion dollars to the International Monetary Fund (IMF) and other global bodies to help struggling economies.
Obama hailed the deal saying he believed it will be "a turning point in our pursuit of a global economic recovery.
"Ultimately, the only way out of a recession that is global in scope is with a response that is global in coordination," he said.
He added that G20 countries were now moving aggressively to get their banks lending again, spur growth and create jobs.
He pointed out that the participants had agreed on the most sweeping reform of their financial regulatory framework in a generation, reform that will help end risky market speculations and other abuses in the financial system.
On Saturday, NATO leaders, including Obama, were to hold formal strategy talks in France as their 60th anniversary meeting goes into a second and final day.
On Friday, Obama warned his European NATO allies that they faced a greater risk of terror attacks than America and that he needed their help to defeat Al-Qaeda in Afghanistan.
Stressing the need for global cooperation, the US president said Saturday his administration recognized that "no corner of the globe can wall itself off from the threats of the twenty-first century, or from the needs and concerns of fellow nations.
"The only way forward is through shared and persistent efforts to combat fear and want wherever they exist," he argued in his address. "That is the challenge of our time. And if we move forward with courage and resolve, I am confident that we will meet this challenge."
"As we have worked this week to find common ground and strengthen our alliances, we have not solved all of our problems. And we have not agreed on every point or every issue in every meeting," Obama said in his weekly radio address.
"But we have made real and unprecedented progress -- and will continue to do so in the weeks and months ahead."
On Thursday, the Group of 20 developed and emerging economies agreed at a meeting in London to commit one trillion dollars to the International Monetary Fund (IMF) and other global bodies to help struggling economies.
Obama hailed the deal saying he believed it will be "a turning point in our pursuit of a global economic recovery.
"Ultimately, the only way out of a recession that is global in scope is with a response that is global in coordination," he said.
He added that G20 countries were now moving aggressively to get their banks lending again, spur growth and create jobs.
He pointed out that the participants had agreed on the most sweeping reform of their financial regulatory framework in a generation, reform that will help end risky market speculations and other abuses in the financial system.
On Saturday, NATO leaders, including Obama, were to hold formal strategy talks in France as their 60th anniversary meeting goes into a second and final day.
On Friday, Obama warned his European NATO allies that they faced a greater risk of terror attacks than America and that he needed their help to defeat Al-Qaeda in Afghanistan.
Stressing the need for global cooperation, the US president said Saturday his administration recognized that "no corner of the globe can wall itself off from the threats of the twenty-first century, or from the needs and concerns of fellow nations.
"The only way forward is through shared and persistent efforts to combat fear and want wherever they exist," he argued in his address. "That is the challenge of our time. And if we move forward with courage and resolve, I am confident that we will meet this challenge."
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