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Obama, world want bold signs from Europe at G-20

June 16, 2012 • Business


FILE – In this July 7, 2009 file photo, President Barack Obama shakes hands with then-Russian Prime Minister Vladimir Putin in Moscow. With global anxiety rising, President Barack Obama is searching for bolder, swifter signals from Europe that it will contain its fiscal mess and keep it from torpedoing the U.S. economy and his re-election chances along with it. Yet as he prepares to plunge into summit talks with the other world leaders, Obama is down to the power of persuasion and little else. (AP Photo/Haraz N. Ghanbari, File)

CHICAGO (AP) — With global anxiety rising, President Barack Obama is searching for bolder, swifter signals from Europe that it will contain its financial mess and keep it from torpedoing the U.S. economy and his re-election chances along with it.

Yet as he prepares for summit talks beginning Monday in Mexico with the other world leaders, Obama is down to the power of persuasion and little else.

A looming, perilous Greek election and Europe’s internal politics are controlling the debate.

Given the teetering global economy and the breadth of leaders about to gather in the coastal resort of Los Cabos, the Group of 20 summit meeting carries the weight of expectations it is not likely to meet. Most of its members are not part of Europe and they have no power to drive how the continent manages its crisis, although do they come looking for signs of progress and urgency.

That clearly is the case for Obama, locked in a Login to read more

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