President Barack Obama in his weekly radio and video address this morning praised the agreement he reached with world leaders at Thursday's G-20 summit in London. Obama called the move by leaders of the world's largest economies to make available more than $1 trillion in new lending “a turning point in our pursuit of a global economic recovery.” “All of us are now moving aggressively to get our banks lending again,” Obama said. “All of us are working to spur growth and create jobs. And all of us have agreed on the most sweeping reform of our financial regulatory framework in a generation -- reform that will help end the risky speculation and market abuses that have cost so many people so much.” Obama said, “The only way forward is through shared and persistent efforts to combat fear and want wherever they exist. That is the challenge of our time. And if we move forward with courage and resolve, I am confident that we will meet this challenge.” Obama highlighted his discussions with Chinese President Hu Jintao and Russian President Dmitry Medvedev regarding the economy and nuclear weapons, as well as his meeting with NATO allies.
