Describing the international financial crisis as "the greatest economic challenge of our time", US President-elect Barack Obama said the turmoil required a "coordinated global response".
CHICAGO: Describing the international financial crisis as "the greatest economic challenge of our time", US President-elect Barack Obama on Saturday said the turmoil required a "coordinated global response".
In his second radio address after his historic election to America's top office, coinciding with the G-20 summit in Washington, Obama backed President George W Bush for initiating the meeting to chart out a strategy to combat the looming
recession.
"Make no mistake: this is the greatest economic challenge of our time. And while the road ahead will be long, and the work will be hard, I know that we can steer ourselves out of this crisis.
"I'm glad President Bush has initiated this process -- because our global economic crisis requires a coordinated global response," Obama said in the Democratic Party's weekly radio address.
While acting in concert with other nations was necessary, the President-elect said, the immediate need is to "act immediately here at home to address America's own economic crisis".
Asking the US Congress to take urgent steps to address the spreading impact of the crisis, Obama said, "if Congress does not pass an immediate plan that gives the economy the boost it needs, I will make it my first order of business as president".
Pointing out that the current meltdown "comes as an opportunity to create jobs," the 47-year old said the country needs new policies to initiate long-term investments "which have been neglected for too long".
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