Monday, June 28, 2010

"Here, Mr. President, is your Head [again]"

President Barack Obama arrived at the [G20] summit on what White House officials hoped would be a triumphant note after House and Senate negotiators reached a final compromise on a bill that would bring about the most sweeping overhaul of financial rules since the 1930s.

But he left having achieved little on the fiscal issues that dominated the summit.

The United States was forced to give ground on European demands for a new emphasis on budget austerity, which it had warned threatened to torpedo the fragile economic recovery.

-from the [UK] Telegraph today.

No comments: