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French Offensive Against the Dollar Falls Flat
By Joseph Schuman - AOL NewsFrench President Nicolas Sarkozy is on a mission to save the international economy through his nation's presidency this year of the Group of 20 major economic powers. And one of his principal goals has been to tackle perceived financial imbalances by reducing the prominence of the U.S. dollar in global finance. But if Sarkozy was looking for support for his dollar offensive from President Barack Obama, he was disappointed. Halfway through several hours of summiteering today at the White House, Obama praised France as a strong ally that has fought side by side with the U.S. in Afghanistan and ...
Obama Claims Strengthened Hand in Global Dealings
By not in system - AOL News
YOKOHAMA, Japan (Nov. 12) -- President Barack Obama claimed a stronger hand on the world stage Friday despite electoral defeats at home, failure to get a free-trade agreement with South Korea and lackluster international support for his get-tough policy with China on trade and currency disputes. "It wasn't any easier to talk about currency when I was first elected and my poll numbers were at 65 percent," Obama argued at the close of the G-20 summit, after bluntly accusing Beijing of undervaluing its currency. The president flew to Japan for the APEC summit without the coveted trade pact with ...
Obama Has Little Chance of Success at G-20 Summit
By Joseph Schuman - AOL News
(Nov. 11) -- If President Barack Obama hoped to head home this weekend with a sense of international victory following last week's election setbacks, he seems unlikely to get it from the G-20 economic summit in South Korea. Even before the two-day summit could begin today, Obama had to answer questions about the failure of U.S. and South Korean officials to meet a deadline he set to conclude a long-negotiated bilateral trade agreement. "President Obama and I agreed that we will give my trade minister and the U.S. trade representative more time so that they can finalize the technical issues," ...
G-20 Struggles to Find Common Ground on Disputes
By not in system - AOL NewsSEOUL, South Korea (Nov. 11) -- A strong sense of pessimism shrouded the start of an economic summit of rich and emerging economies Thursday, with President Barack Obama and fellow world leaders arriving in Seoul sharply divided over currency and trade policies. The Group of 20 summit, held for the first time in Asia, has become the centerpiece of international efforts to revive the global economy and prevent future financial meltdowns. Failure in Seoul could have severe consequences. The risk is that countries would try to keep their currencies artificially low to give their exporters a ...
Ireland: From Economic Tiger to Austerity and, Now, Recovery?
By Paul Wachter - AOL NewsIreland, the first European country to plunge into recession following the global financial crisis, is now the first to recover. Exports pulled the slumping economy out of recession, but even with this latest good news, the economy shows few signs of returning to its former heights. "After its last major recession in the 1980s, it lured knowledge-based multinationals like Intel and Microsoft -- and now Facebook and Linked-In -- with a 12.5 percent tax rate, giving Ireland one of the most export-dependent economies in the world," The New York Times reports. In 2008, a housing bust, not ...
Michelle Obama Adds India Trip, State Dinner for China to Calendar
By Lynn Sweet - Politics DailyNot to be lost in the bigger news from the G-8 and G-20 summits in Canada is a peek at what First Lady Michelle Obama has in store in the coming months: President Obama announced he will be taking his family to India, probably in November, and the East Wing will be busy planning its third state dinner, for Chinese President Hu Jintao later this year. Also, Obama said he is determined to make a trip to Indonesia with the family -- so far postponed two times. After a meeting with Indonesian President Susilo Bambang Yudhoyono in Toronto Sunday, Obama said, "I'm confident that we are going to ...
Armed Man Arrested Near Site of G-20 Summit
By Hugh Collins - AOL News(June 24) -- Canadian police today arrested a man driving a car loaded with weapons, including a crossbow, chainsaw and containers of gasoline, close to the site of the planned G-20 summit in Toronto. The man was stopped by police who were suspicious of the large homemade steel container on top of his car, Agence France-Presse reported. "The design of the vehicle gave us some concern," constable Hugh Smith told reporters. The box contained weapons including a crossbow, five arrows, a sledgehammer, a pickax, a chainsaw, gasoline and a baseball bat, The Globe and Mail reported. The arrest ...
On Economy, Europe From Mars, US From Venus
By Theunis Bates - AOL NewsLONDON (June 24) -- As the leaders of 20 of the world's biggest economies gather in Toronto this weekend, they'll fondly recall the consensus they achieved in September in Pittsburgh, where they unanimously agreed to pump more government money into the global economy to stop the recession from escalating into another Great Depression. But will there be a similar display of fiscal unity at this G-20 summit? Don't hold your breath. Because while the Obama administration wants governments to keep spending on stimulus measures to bolster a fragile global recovery, Europe has opted for a new age ...
MLB Moves Series From Toronto to Philadelphia to Avoid G-20 Conflict
By Marc Lancaster - AOL NewsPast G-20 Summits have been marred by unruly, boorish and sometimes even violent and dangerous behavior by onlookers. Not wanting to subject the Blue Jays and Phillies to that type of scene in a series that was slated to take place at Rogers Centre next month while the latest G-20 is being held in Toronto, Major League Baseball announced Tuesday that it has moved the games to quiet, serene Philadelphia. The Blue Jays will wear their home whites and bat last for the June 25-27 series at Citizens Bank Park, and both teams will use the designated hitter. But you get the feeling the natives ...
Michelle Obama Will Make International Hostess Debut at Pittsburgh G-20 Summit
By Lynn Sweet - Politics DailyIf you think First Lady Michelle Obama gets scrutinized on her overseas trips, just wait till she hosts spouses of international leaders at a summit in Pittsburgh Sept. 24-25, where the global economic crisis will top the agenda. The "Pittsburgh Summit 2009" is a meeting of the G-20, the Group of Twenty, an organization established in 1999 to bring together major world leaders to deal with global economic issues. The G-20 gathered in London last April. The East Wing is now planning Mrs. Obama's activities, working with the State Department. "She will host the spousal program," Mrs. Obama's ...
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