US President Barack Obama joined British Prime Minister Gordon Brown today in calling for a global solution to the economic crisis and both leaders vowed to repair their countries' shattered financial systems.
Mr Brown is the first European leader to visit Mr Obama since the latter took office on January 20th.
President Obama said he was "absolutely confident" his administration's plans to deal with toxic bank assets would succeed and downplayed the big declines in the stock market recently and said share prices and the economy would revive in the long term.
"What I'm looking at is not the day-to-day gyrations of the stock market but the long-term ability for the United States and the entire world economy to regain its footing," he said during a meeting in the Oval Office with Brown.
Mr Brown said it was clear that regulation had to change and wants the G20 meeting in London next month to get new international agreement.
"There is going to be big regulatory change," he said.
Mr Brown will deliver a speech tomorrow to the US Congress where he plans to lead a charge against protectionism.
The high profile accorded to Mr Brown's visit has not dispelled anxiety in Britain about whether the relationship between the two countries would remain as "special" as ever.
Both leaders went to lengths to emphasize the closeness of the bonds between their countries.
"Our relationship is terrific," Mr Obama said, commending Mr Brown for his efforts to grapple with the problems in the British economy.
Reuters