Joint Statement on US EU Summit

Obama met with European leaders today.

Joint Statement: US-EU Summit

1. We, the leaders of the United States and the European Union, met today at the White House to affirm our close partnership. Drawing upon our shared values and experience, and recognizing our deep interdependence, we are committed to ensuring that our partnership brings greater prosperity and security to our 800 million citizens, and to working together to address global challenges.

2. Since our meeting in Lisbon last November, the global economy has entered a new and difficult phase. We are committed to working together to reinvigorate economic growth, create jobs, and ensure financial stability. We will do so by taking actions that address near-term growth concerns, as well as fiscal and financial vulnerabilities, and that strengthen the foundations of long-lasting and balanced growth. In that regard, the United States welcomes the EU’s actions and determination to take all necessary steps to ensure the euro area’s financial stability and resolve the crisis. The EU looks forward to U.S. action on medium term fiscal consolidation. We agree on the importance of working together with emerging economies to foster policies supporting sustained and balanced global growth. We recall our commitment to implement fully the outcome of the G20 Cannes Summit.

3. We recall our G20 commitment to support the multilateral trading system and resist protectionism. We stand by the Doha Development Agenda mandate and recognize the progress achieved so far, but note that in order to contribute to confidence we must pursue fresh, credible approaches in 2012 to advance the negotiations and pursue new opportunities and challenges. We look forward to the upcoming Ministerial meeting in Geneva, which provides an important opportunity to work on such approaches. Read the rest