Obama To Push G20 To Tackle Long Term Debt Issue

October 31, 2011

President Barack Obama goes to the G20 economic summit in France this week with hopes of helping Europe move toward a long-term solution for its debt crisis. The president is also trying to convince the other G20 countries that America’s economic and political problems can be overcome

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Europe's debt crisis, which recently led to riots in the streets of Athens, will lead the agenda

Last week’s agreement by the European Union to enlarge its bailout fund and to cut Greece’s debt in half will likely ease some of the pressure on the G20 leaders.

President Obama called it an important first step, but said more work lies ahead.

“The key now is to make sure that it is implemented fully and decisively, and I have great confidence in the European leadership to make that happen," said President Obama.

America’s economic and political problems may also come up at the G20. Stubborn high unemployment has stifled the US economic recovery.

And partisan bickering has led to questions from other countries about Washington's ability to address its economic problems.

White House Press Secretary Jay Carney assures the G20 partners that the president is making progress on these issues.

“So he carries with him to France the fact that we are pushing our Congress to act on these matters, and he comes as the leader of the largest economy in the world and a great friend and ally of a great many nations," said Carney.