President Obama published an op-ed piece in more than 30 newspapers worldwide today, urging the G-20 nations to take immediate, bold action to fix the economy. “The United States is ready to lead,” he wrote in the Los Angeles Times, among others, “and we call on our partners to join us with a sense of urgency.” Included was a call for broad stimulus action—something the European Central Bank opposes.
“We cannot settle for the status quo,” he continued, demanding increased regulation, transparency, and a check on “out-of-control compensation,” along with a crackdown on offshore tax havens and money laundering. “America bears its share of responsibility for the mess that we all face,” he said. But “the nations of the world have a stake in one another,” and together can face the challenges.