Weathering the crisis with transatlantic cooperation

 
Angela Merkel and Barack Obama also discussed the outcome of the previous day’s G20 summit in Baden-Baden. The leading industrialised nations and emerging economies agreed in London to take concrete action to put in place a new international financial architecture. Effective controls are to make risks more calculable and stabilise markets.
 
The Chancellor praised the London summit. It showed the world, she said that these counties are ready and willing to cooperate. "It is a joint responsibility for us, because transatlantic relations are a driving force that will help us weather this crisis.”
 
For the American President one thing is clear. "If we do not coordinate our activities properly, we will fail as a group”. In London, he said the first steps were taken to encourage economic growth. They are no guarantee of an immediate recovery, but they are a prerequisite for recovery.