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Obama to G-20: We Must Act Fast on Crisis

Responds to Europe's stimulus reluctance with global op-ed blitz

By Kevin Spak, Newser Staff

Posted Mar 24, 2009 9:55 AM CDT

(Newser) – 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.

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President Barack Obama makes remarks yesterday about investments in clean energy and new technology included in the budget. (AP Photo)

President Barack Obama makes remarks to representatives of the National Conference of State Legislatures, March 20, 2009. (AP Photo)

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The nations of the world have a stake in one another. Together, we can learn the lessons of this crisis and forge a prosperity that is enduring and secure for the 21st century. - Barack Obama

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Obama to G-20: We Must Act Fast on Crisis