Obama "optimistic" at G20 result

President Barack Obama: "confident and optimistic"

Appearing before journalists following the G20 Summit U.S. President Barack Obama said the meeting was “productive" and “historic”. There was no real sense of excitement as hundreds of journalists waited for the leader to give his thoughts on the outcome. Many were tired after a long day and it was, after all a repeat of what Gordon Brown had already said.

However, Obama was nonetheless the star of the show, exuding a sense of charisma not seen in other G20 leaders. Stepping onto the stage some 40 minutes later than expected, Obama said he was generally confident and optimistic in what had been achieved.

"By any measure the London Summit was historic,” he told the news conference, “not only because of the size and scope of the challenges we face, but also because of the timeliness and magnitude of our response."

"The challenge is clear, and the global economy is retracting," he declared, but said the world was now at the "turning point of our economic and global recovery."

"Today the world's leader have responded with a set of unprecedented and coordinated actions," Obama told reporters.

There was, he said a strong consensus in rejecting protectionism. "History tells us that turning inward can help turn a downturn into a depression" Obama said, declaring that the agreements reached signalled support for open markets. "Today we have learnt the lessons of history and we are committed to growth and job creation," Obama said

He said that there had been agreements on facilitating "bold action to help developing countries" and injecting huge sums into the IMF to help struggling economies. "In an age where our economies are more closely linked than ever before, the whole world is touched by this devastating downturn," Obama said.

The president then made a pledge to help those most vulnerable in the world. Obama saying he would seek authority from the U.S congress to enable 448 million dollars to be diverted into helping Africa's poor as well as those in Latin America. But he insisted this was not charity. It was, he said, an effort to help what he called "future markets" that would one day drive economic growth.

Turning to the importance if implementing a better regulatory system, Barack Obama said, "We must put an end to bust and bubble economic policies," adding that risk taking which had been so harmful to the economy must end. He and the G20 partners had also agreed to greater transparency and said new regulations would be applied to hedge funds and tax havens.

The President did concede that bringing together 20 nations and making a deal was not easy. “Each country has its own non-negotiable issues,” he said, and added that more work may yet need to be done.

"This is not a panacea but it is a critical step," he declared, "But we may have to take additional steps until we get it right." It was hard to bridge differences, Obama said, and not everything was solved. He therefore welcomed another meeting scheduled for late 2009. He said that the summit had however achieved a great deal, partly he said due to the hard work that Gordon Brown had put in to organise the meeting.

"America is a critical actor and leader on the world stage," he said boastfully, but, he added, "We may not always have the best answer" to the problems the world faces. "The proof of the pudding is in the eating."

While in general there was strong consensus, there did appear to be some conflicts of policy. In an apparent comment at Gordon Brown comments at attempting to stop the rampant bonus culture seen in Britain, Obama said, "We don't want the state dictating salaries." But he added that there must be more accountability.

There are no guarantees in life or economics, Obama said but insisted the steps in the communiqué were necessary.

In his final summing up Barack Obama was thoughtful and philosophical. He even joked with reporters during the Q&A that followed. But he also spoke as a true statesman, with confidence and with optimism.

"Ultimately the challenges of the 21st century cannot be met without collective action. Agreement will almost never be easy, and result will not always come easy. But I am committed to respecting different points of view and to forging a consensus instead of dictating our terms. That's how we made progress in the last few days and that's how we will advance the deals in the months and years to come."

"In a world that's more and more interconnected we all have responsibilities to work together to solve common challenges. And although it will take time, I am confident that we will rebuild global prosperity if we act with a common sense of purpose, persistence and the optimism that the moment demands."

Obama retakes oath of office

It was perhaps an effort to dispel the conspiracy theories, but Barack Obama has retaken the oath of office. The move to take the oath again came after he fluffed his lines after Chief Justice John Roberts delivered it incorrectly to him. During Tuesday’s inauguration Roberts mixed-up the words to the second clause (“That I will faithfully execute the Office of the President of the United States”), missing out the word “faithfully” and putting it at the end. This confused Obama, who once taught Constitutional Law at Chicago Law School.

Obama technically became president a few minutes before he took his oath because the proceedings overran. Under Amendment 20 of the US Constitution, ratified in 1933, the term of the outgoing president ends at precisely noon on January 20. However, section 2 of the US Constitution states the oath must be read out as written. Thus came the dilemma.

Following the inauguration Barack Obama had also signed the declaration. But in an attempt to quash any criticism or conspiracy theories, the White House quickly organised another ceremony in the map room. Some conspiracy nuts may not be entirely placated as a picture showed the President taking the oath without the bible. However, Sky’s Tim Marshall described the whole affair as a bit “frothish” and said, “I don’t think it actually matters”. Greg Craig, the White House counsel, called the retaking of the oath an “abundance of caution” while another White House spokesman said it was a “precaution”. The President was a little more jovial about the whole affair. "We decided that because it was so much fun ...," Obama said jokingly to reporters. Earlier, Vice-President Joe Biden had made light of Chief Justice Robert’s misreading of the oath. “My memory is not as good as Justice Roberts, Chief Justice Roberts," Biden said as he asked for a copy of the oath to swear in senior members of the White House staff on Wednesday. The comment was met with laughs and groans from journalists present and President Obama seemed less than happy with the comment [CNN].

It is not the first time an incoming president has fluffed his lines at the inauguration ceremony. Herbert Hoover said “preserve, maintain and defend the Constitution of the United States” instead of “preserve, protect and defend the Constitution of the United States”. However, Hoover did not take the oath again. Both Calvin Coolidge and Chester Arthur retook their oaths. Arthur, who served from 1881 to 1885, was sworn in by the Chief Justice of the New York Supreme Court at his home in a private ceremony following the assassination of former president James Garfield. Arthur was sworn in a second time by the Chief Justice of the US Supreme Court two days later at the Capitol.
In Coolidge's case, he took the oath of office at his father's Vermont home following the death of former president Warren Harding. Coolidge's father was a justice of the peace and administered the oath. Concerns about the jurisdiction of Coolidge's father led to Coolidge taking a second oath later in Washington.

Thus Obama stands as the third president to retake the oath of office [Sky News / BBC / CNN].

Obama sworn in as 44th US President

Barack Obama has been sworn in as the 44th President of the United of the United States of America. After introductions and an opening address by Sen Dianne Feinstein, the Chair of Joint Congressional Committee of Inaugural Ceremonies, there followed a preliminary prayers and musical interludes. Rick Warren, author and pastor of the Saddleback Church, Orange County, Calif., said prayers for the forthcoming administration and ended with the Lord's Prayer.

Aretha Franklin sang "My Country 'Tis of Thee" before the crowds of enthusiastic Obama supporters. Obama say alongside his wife with his eyes closed listening to the music before Joe Biden stood to take the oath of office. As the bible was handed to him he was heard to say "that's one hell of a book". Another musical interlude followed. Yo-Yo Ma, Itzhak Perlman, Anthony McGill and Gabriella Montero performed 'Air & Simple Gifts' written by John Williams.

Finally, Barack Obama stood up to take the oath that would make him the 44th President. He stumbled over the words slightly with a smile, but he could be forgiven for being just a little nervous as millions around the world watched.

He spoke not only of making America strong but also bringing the world together in peace. But he said that those who wished to harm America would regret their actions. "
To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West - know that your people will judge you on what you can build, not what you destroy. To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history; but that we will extend a hand if you are willing to unclench your fist," President Obama said.

He spoke too about the economy. "Without a watchful eye the market can spin out of control" he said and promised to put the country back on track. But he said now was not a time for recriminations. "Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America" Obama told the huge crowds.

"All are equal, all are free, and all deserve a chance to pursue their full measure of happiness" President Obama said. But he said all should work together to make that dream possible.

"With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations" [Full Text].

2008 leaves little to rejoice about

Oil prices, China, the US election & a global recession dominated 2008

2008 has been an eventful year but perhaps it is the cataclysmic events that have left the most lasting of memories. January saw the price of oil pass the $100 per barrel mark. The month also saw a stand off between Iranian forces and US warships over territorial water disputes. The year also started with Israeli incursions into Gaza leaving nearly 50 Palestinians dead. Financial markets were also rocked after rogue trader Jerome Kerviel lost more than €4.9 billion for the French bank Societe Generale in what at the time was described as a “large scale internal fraud” by President Sarkozy.

China saw the beginning of what was a turbulent year after thousands became stranded in the worst snow storms the country had seen for years. The clear up continued well into February and left dozens dead. The US also experienced rare February storms which left around 60 dead. The New York Philharmonic Orchestra played a rare concert in North Korea to soften the diplomatic tension between the two countries. But tensions continued in many other countries. Violent clashes occurred in Serbia and Kosovo after the latter declared its independence and bombings continued to wreak havoc in Iraq and Pakistan.

In March Dmitry Medvedev won the Russian election but was widely seen as Putin’s puppet. Attempts at developing a peace process in the Middle East once again fell on stony ground and incursions and terrorist attacks continued. China returned to the headlines after riots in Tibet left up to 100 dead and the fallout became a PR disaster for the country after protests followed the Olympic torch around the globe during April. There were further troubles after a train crash in Shandong province left 70 dead.

May became a cause for celebration for many Londoners after Boris Johnson won the Mayoral election. But it was the natural disaster in Myanmar which dominated headlines after a cyclone left thousands dead and without help as the country’s dictatorship refused foreign aid. China was the next victim after a massive earthquake struck Sichuan province. Around 80,000 died in the earthquake and a quarter of a million were injured, but China was far more accepting of foreign help, though it was less appreciative of the criticism of its building regulations after it emerged many schools appeared to have been badly built. May also saw oil rise beyond $135 per barrel leaving many motorists around the world with increased running costs.

June brought further rises in the price of fuel and tanker strikes in Britain which nearly saw the pumps run dry. Zimbabwe was once again in the news after Robert Mugabe stole another election. But in the US election Hillary Clinton finally conceded defeat in her bid as Democratic candidate and endorsed Barack Obama. China once again suffered the wrath of nature’s power after floods left millions homeless and more than a hundred dead.

July saw violence return to Israel after a man used a tractor to unleash an attack on civilians. Four were killed and nearly 40 were injured before the man was shot dead by police. Bomb attacks in Afghanistan and Pakistan left more than 60 dead. July also saw the first signs of the impending recession after Fannie Mae and Freddie Mac ran into trouble and stock markets around the world began to fluctuate wildly. But it was the Olympics which hit the headlines as August arrived. However, despite the show of the century, the media could not help but criticise the poor air quality, the arrests of foreign journalists and highlight terrorist attacks that struck in parts of the country.

As the US election campaign got into full swing the financial crisis began to bite hard and one institution after another began to fold. China was also suffering from its own crisis after it was revealed that milk had been contaminated with the industrial chemical melamine leaving thousands sick and at least four babies dead. But it was the financial downturn that gripped most people’s attention well into October. Almost everyday there was further bad news as one company after another announced it was running into financial difficulty.

November brought with it a moment of history after Barack Obama became the first black American President. But the celebrations were short lived as the reality of the deepening financial crisis set in. There was further tragedy after Pakistani terrorists killed dozens on the streets of Mumbai in India. A three day siege ensued and around 156 were killed. India was left reeling from the attacks and there were calls from many to retaliate against Pakistan. THere was no retaliation, though tensions remain high between the two nuclear powers.

December saw Greece gripped by riots after police shot a young teenager dead. Zimbabwe, already suffering from financial collapse, was now becoming the victim of a cholera pandemic which Mugabe blamed on the West. But the West was more concerned with its own demise as one company after another shut its doors. For many retailers it was far from a very merry Christmas as many were forced to slash prices in order to drum up trade. And in the Middle East, the birthplace of Christ, it ended much as it had begun with Israeli bombardments on Gaza and with tanks preparing to roll into the Palestinian territory.