Global coordinated action to combat the worldwide financial crisis was not going to happen overnight but would proceed in fits and starts that would eventually result in a more prosperous economy President Barack Obama said on Tuesday ahead of a summit of leaders from the top 20 industrialized nations gathering in London in April.
Obama made the comments after a meeting at the White House with UK Prime Minister Gordon Brown who is advocating for a Global New Deal that is meant to coordinate an international response to the banking crisis which has triggered a global recession. Brown will be hosting a G20 gathering in the UK on April 1.
President Obama said the problems would ultimately get cleaned up.
And we are going to recover and we are going to emerge more prosperous, more unified, and I think more protected from systemic risk, having learned these lessons, than we were before, he added.