Fernando Fuster-Fabra's Blog

The World: Birdseye-view of a Planet in Crisis | April 19, 2009

Not even such a historical turn of events as the USA having its first African-blooded President serve to quench the anxiety of the crisis kindled in the heart of America’s financial bastion. No amount of funds shoved into ailing banks and industries have served to appease the leaping tongs of the savage bushfire this American financial crisis has produced worldwide.

 

President Obama has inherited not only an ailing economy but likewise an even worst social panorama in the midst of greater unemployment and chaotic social policies. Indeed, the first 100 days of government have not been precisely a Mardi Gras parade down Pennsylvania Avenue but rather a frantic attempt to live up to world expectations that his charisma would bolster sufficient support worldwide towards consensus solutions.

 

Viewed from this side of the Atlantic, Obama’s weeklong tour of Europe with a surprise visit to Iraq, seem to indicate that the President’s scenic popularity among Brits, French, German & Czech populace was not seconded by euphoria in his appeals to European and other world leaders. In Turkey, the signs of prudent mistrust deepened, only to undergo even further question in the brief stint in strictly U.S. military premises in Iraq.

 

The world crisis stands today practically as it was 100 days ago when President Obama was doubly sworn into office. True to say, more money has been handed out to ailing U. S. automobile manufacturers and recently the larger hard-of-cash banks have declared their first trimester of profits. Nevertheless, unemployment has reached record levels and social welfare & healthcare promised actions are still far from implementation. The American scenario, in spite of the President’s request at the G-20 London Summit for a joint effort, is under observation from all world fronts. If Obama’s team of experts should be incapable of harnessing America’s economy, compromises reached to fund the IMF will be turned into wet paper.

 

Not only Obama’s charisma & credibility is at stake but also his footsteps will have misled other world leaders into the wrong path at this decisive crossroads.

 

As it stands today, European Union leaders seek proof that America has the willpower to continue occupying world supremacy in more than military alliances such as 60-year old NATO or world organisms as the United Nations, the IMF or the World Bank. In effect, there is a rather increasing incredulity emanating from the inefficiency of said organisations in bringing about peace and prosperity to all Mankind in this New Millennium.

 

 

g-20-post1

 

 

This is the challenge President Obama was faced with at his various European summit meetings. EU leaders have adopted a “wait and see attitude” that may either turn into applause or intense criticism at the next G-8 session scheduled in Rome for this summer, prior to the next G-20 meeting in autumn. Thus, Obama’s first 100 days have not been all that prolific as his team would have expected. On top of a loaded priority list, I would encourage the President’s team to remember that the United States singlehandedly will definitely not resolve neither its internal economic situations nor contribute towards the desired global recuperation of the world’s major economies. 

 

Madrid, April 18, 2009      

 


6 Comments »

  1. The EU with its heavy bureaucratic Brussels regime and 27 independent states has its uphill to get to agree upon each single move towards consensus. Ireland turned down the now defunct European constitution due to incompatibilities with Irish laws.

    As a group, the EU has much less flexibility than Obama as U.S. President of 50 federal states.

    Comment by Holburne — April 26, 2009 @ 9:49 am

    • True that President Obama concentrates more power over the 50 States than the European Commission over 27. However, socially the EU is far more advanced and even the less developed countries are attaining an acceptable quality of living. What about America’s Midwest? Will they ever reach the level of executives at Wall Street?

      Comment by fernandofusterfabra — May 3, 2009 @ 9:55 am

  2. Is the crisis only economic? I would rather say that the whole socio-economic system requires a severe revamp.

    Comment by inmaral — April 27, 2009 @ 10:52 am

    • Precisely the relegation of social issues to a second order has driven the United States towards this present-day financial crisis. Consumer priorities have forgotten that health (physical & mental) is indispensible to attain optimum levels of motivated productivity. Not all Americans are in such a state. Not all Americans are ready to face with conviction the further deterioration of their quality of living.

      Comment by fernandofusterfabra — May 3, 2009 @ 9:58 am

  3. […] de un George Bush en retirada. Desde entonces, se han celebrado dos otras cumbres, las de Londres https://fernandofusterfabra.wordpress.com/2009/04/19/hello-world/ y Pittsburgh […]

    Pingback by LA CUMBRE G-20 DE TORONTO: LA ÚLTIMA OPORTUNIDAD DE VER LA CRISIS DESDE OTRO ÁNGULO « Fernando Fuster-Fabra en Español — June 23, 2010 @ 7:46 am

  4. […] group, the G-20 met in Washington D.C. under a retreating George Bush. Two other summits, London https://fernandofusterfabra.wordpress.com/2009/04/19/hello-world/ & Pittsburgh […]

    Pingback by G-20 TORONTO SUMMIT: LAST CHANCE TO SEE THE CRISIS FROM ANOTHER ANGLE « Fernando Fuster-Fabra's Blog — June 23, 2010 @ 7:50 am


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