G20 Measures 'Necessary, But 'No Guarantees': Obama

President Obama touted the resolutions of the G20 summit today in London, saying swift and muscular action was needed to reverse the global economic downturn, the AP reports. Steps like the injection of funds into the IMF and the creation of a global regulatory body “were necessary,” he told a packed press conference. “Whether they were sufficient, we’ve got to wait and see.”

Obama would not comment on any compromises the US made—hoped-for stimulus was not agreed upon, for instance—but did say the US had taken a position of leadership. “We’re starting to see some restoration of America’s standing in the world,” he said. Overall, his tone was cautious but optimistic. “In economics there are no guarantees. There are always risks involved,” he said. “This is not a panacea, but it is a critical step.” (More President Obama stories.)