OBAMA URGES G8, G20 TO CONTINUE WORK ON REPAIRING GLOBAL ECONOMY
Baku, June 25 (AZERTAC). President Barack Obama is urging G-8 and G-20 nations to work together on steps already taken to repair and strengthen the global economy, according to VOA.
The president arrived in Toronto for the G-8 and G-20 summits strengthened by U.S. lawmakers who reached an agreement that would send a sweeping financial system reform bill to the president`s desk.
In remarks at the White House before departing for Toronto, President Obama referred to steps taken by past G-20 summits in London and last year in Pittsburgh that he said brought the global economy back from the brink.
The president said major industrialized nations in the G-8 and those in the wider G-20 group need to coordinate efforts to promote growth and pursue financial reform to ensure that this progress doesn`t go to waste.
"We need to act in concert for a simple reason," he said. "This crisis proved and events continue to affirm that our national economies are inextricably linked, and just as economic turmoil in one place can quickly spread to another, safeguards in each of our nations can help protect all nations."
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