Obama faces challenges at G20 summit
By VICTORIA JONES
Talk Radio News Service
WASHINGTON – The G20 has kicked off in Mexico.
President Obama has little economic leverage and the eurozone’s troubles pose a big problem to his reelection effort. He wants to see Europe encourage growth while leave management of debt to the longer term and see efforts from Europe to stabilize the financial system .
Today he meets with President Putin of Russia – it will be a chilly meeting between the two, who have met once before. Each is under pressure to demonstrate strength at home. Tomorrow he meets President Hu of China, and will pressure him on Syria.
Obama is also expected to press Putin hard on Syria which has been Russia’s ally for four decades. Secretary of State Hillary Clinton called a Russian veto of a UN resolution supporting the Arab League’s transition plan “despicable” and last week she publicly accused the Russians of supplying Assad’s army with attack helicopters. However, the U.S. cooperates with Russia in other areas – Iran and Afghanistan, for example.
Greece will be on the agenda and Sunday’s election victory of the centre right New Democracy party makes it almost certain that Greece will stay in the eurozone – if it can form a coalition.
The European crisis is the most significant threat to the U.S. economy which is the main concern for voters in the November election so it’s a top priority for Obama. The president says the crisis is Europe’s to solve and he does not favour any injection of U.S. funds.
Finally, Egypt is emerging as a critical challenge with the creeping coup going on.
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Posted by Gary
on Jun 18 2012. Filed under Breaking News, Economy/Business/Labor, Top stories, World.
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