For Obama, A First Test On The World Stage

Katie Couric: The President's Popularity Will Help, But EU Leaders Have Different Ideas About The Economic Crisis

(CBS)  CBS News anchor Katie Couric is in London this week, covering President Barack Obama's debut on the world stage.

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The pressure on him is enormous - at a moment when America's global influence is challenged, President Obama's own powers of persuasion are being put to the test.

Mr. Obama called this week's G20 summit in London "a critical meeting at an obviously critical time in the world's economy."

It's also a critical opportunity for him.

"I think President Obama is going to get a fantastic welcome in Europe not just for who he is but what he represents," said Jon Bruton, the EU Ambassador to the United States.

What he represents, to many countries overseas, is a departure from the Bush administration, which alienated some foreign governments early on with its rejection of global warming initiatives and its national security positions. It's a fresh start. But the current president's approval ratings will only take him so far.

"Barack Obama is still extraordinarily popular at the street level throughout Europe but I don't think that's gonna translate into the governmental level," said Richard Haass, president of the Council on Foreign Relations. "They are going to push back. Because for them, basic questions of dollars and cents of economics are far more important than anything to do with the United States."

Several thorny issues will dominate the discussions. The White House is pushing for other countries to adopt their own stimulus plans similar to the $787 billion package passed in the United States.

President Obama will meet with British Prime Minister Gordon Brown Wednesday, and he'll likely find a receptive audience. Brown supports a stimulus package to jump-start his own country's economy, which is in a real bind, facing declining retail sales, a housing market in deep trouble and rising unemployment.

But when the president meets with French President Nicholas Sarkozy and German Chancellor Angela Merkel, he'll find two leaders very wary of spending their way out of a recession.

To get out the Great Depression, President Roosevelt infused money into the system through a number of programs known as the New Deal. President Obama is following that model.

But history has taught the Europeans a different lesson. In the early 20th century, Germany pumped massive amounts of cash into the economy, sending inflation sky high. The German people lost faith in their government and that led to the rise of Hitler, fascism and World War II. Today the German people fear inflation more than almost anything.

"We're not on the same page as the Europeans," Haass said. "The United States is focused on more stimulus packages. The Europeans are worried this will simply rekindle inflation. The Europeans are much more focused on things like regulatory reform."

The Europeans are calling for an international banking super cop to monitor the financial system worldwide but The U.S. is unlikely to support such a plan.

Meanwhile, the International Monetary Fund, or the IMF, will also be high on the agenda. Nations will be asked to donate more to the fund so it can support struggling countries like Hungary, Romania and Ukraine.

Meeting the heads of emerging economic powers like China and Russia may be the most challenging and delicate task for a president with limited foreign policy experience. Both countries have recently antagonized the U.S. by calling for a global currency to replace the dollar.

"What they're basically saying is, 'Hey, you Americans can't have it both ways. You've either got to give the rest of us a say in how may dollars you'll print or you may have to get used to the idea of something else besides the dollar,'" said Haass.

And China's new assertiveness on this and other issues gives it a powerful new voice in this, the tenth year of the G20.

All of these things seem to point to the fact that the United States is watching its importance in the world decline rather significantly.

"The fact that you have 20 countries meeting tells you something. The United States is simply one of the 20," Haass said. "Yes the most powerful, but others are beginning to assert their role on the world stage more forcefully."

[lindalee60]

attn: endeaver-2009,of course they love him in Europe, they are socialist! He is right up their alley. They want us to join the club. I want to thank all the people who make the remarks like the one below, for pushing this independant toward the republican party. I guess an intelligent conversation is not possible with the Obama sheep, or for your party in general. Personal attacks only make you look like idiots. Or do you not know the things Mr. Obama is trying to do to this county. You need to look at the issues, and not focus on his pretty face. Try doing a little research, and you might be surprised on how much smarter you will sound.

You knuckle-dragging inbred ignorant republicants don't matter anymore...now, walk upright back into your caves, keep listening to your idiotic leader Rushlimp drugs and go count the billions you raped and pilliaged from this country over the last 8 years. The President of Venezuela was right!

[James_123456789]

Interesting. You honestly believe a poll of 1000 people is an accurate representation of the U.S.? You sir are a socialist fool. My guess is 2010 will be a very disappointing year for you. Now go back to your MSNBC/Air America channel and have fun.

[myopinion4once]

Attention Repiglicans--- Bad News for you today. President Barack Obama's new Poll numbers at 67%---- Repiglican Party at 23%.. What a joy to the World to have a President who can speak in a couple of languages instead of Bushspeak. The World is very excited also approval of Obama in Europe 82%---- Bush 10% . Now Repig's crawl back into your Dark Trailer Parks and Lurk there for awhile and in your spare time , which will be a lot , you can practice on sewing more Three Holed White Sheets and practice saying Git er Done.
Posted by endeaver-2009 at 9:16 PM : Mar 31, 2009

When the poll numbers are posted by Democraps who are one sided, you only get the numbers the Democraps want you to see. They have to show their Messiah to be gaining popularity otherwise it would prove the Republicans were right. The democraps have been forging the numbers for years. That?s why they were so hell bent on getting into the White House that they would nominate and support an unqualified ineligible candidate.
The proof is in the pudding. You refuse to show your CERTIFIED birth certificate and you grandmother signs a SWARN statement she watched his birth in Kenya. AMERICAN servicemen in Afghanistan are refusing to acknowledge him as their commander in chief until he proves his citizenship.

[rrozsa]

The leg called Capital, run by Wall Street gangsters in Republican suits, led by a dumbo in an oval office who called off the regulatory dogs, that led to this crisis. Still the Capital leg keeps crying and whining because they are not allowed to destroy what is left of the American piggy-bank.
Posted by bajajohn1 at 11:39 PM : Mar 31, 2009

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One thing I do agree with about your statement is that the Republicans (Bush administration) fell down on the job, by not calling down the likes of Barney Franks. The democrats were the direct cause of the crisis, but the Republicans (regulatory dogs) are indirectly to blame by allowing it to happen.

[rrozsa]

Posted by ConstantineXIII at 10:00 PM : Mar 31, 2009

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That pretty much sums it up. Thank you.

You knuckle-dragging inbred ignorant republicants don't matter anymore...now, walk upright back into your caves, keep listening to your idiotic leader Rushlimp drugs and go count the billions you raped and pilliaged from this country over the last 8 years. The President of Venezuela was right!

[hunterdon6]

I hope he doesn't trip on the stage. What happens when the teleprompter comes up in a foreign language. oh ah oh ah oh ah...............

[tomadams99]

Obama proved himself an absolute bumbling fool on the world stage. The guy cannot express a single sentence with clarity, and the uh...oh...uh....uh....What an embarrassment the guy is standing next to a very articulate British Prime Minister. Obama has earned the title of the Teleprompter King. Sheesh. After watching this bumbling toad, please don't talk about GW's chatting screwups anymore. Old TK trumps him.

[lucytomato]

Yes ,China or Russia is getting stronger .They will surely give a voice to the world that "America superiority will be NO.1 for ever ?or American choice will be the first choice for ever ?"
Nothing except the future have the right answer.

[bajajohn1]

Free enterprise is like a three-legged stool. The legs have names; land, labor and capital. Guess which leg grew so fast due to greed and lackluster enforcement of regulation that it toppled the other two legs. The leg called Capital, run by Wall Street gangsters in Republican suits, led by a dumbo in an oval office who called off the regulatory dogs, that led to this crisis. Still the Capital leg keeps crying and whining because they are not allowed to destroy what is left of the American piggy-bank.