4.7.1: Global Financial Crisis

Addressing the Global Financial Crisis.

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Alongside our global partners, we took decisive actions to address the global financial crisis and have worked together to make the global economy and financial system more stable and secure. While Europe remains a significant risk to the global economy and while the problems there will not be solved overnight, Europe's leaders have made clear they will do what is necessary to preserve financial stability in the Eurozone and have the collective ability to address their economic challenges. We have been and will continue to be in frequent contact with our European allies to discuss best practices and share valuable lessons from our own experience reversing our economic downturn, helping them chart the best way forward. As we continue to work with traditional centers of influence, we have also reached out to emerging economies to give them a greater voice and a greater stake in the global economy. We have made the G-20 the premier forum for international economic coordination in recognition of the fact that 21st century economic discussions must include countries like China, India, Indonesia, and Brazil. And, together, the nations of the G-20 brought the world economy back from the brink of another depression.

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