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A visit to London for the G20 Summit this week will be U.S. President Barack Obama’s first trip to Europe.

The Summit will bring together leaders from developed countries focusing on how to fix the global economic meltdown.

We begin with France 24 looking at the Summit from Europe’s perspective.

European leaders want Obama to favor more regulation of the financial system over more spending to help solve the crisis.

“Europe has no more degrees of freedom for spending, but that’s not the case of the U.S…I think it’s very wise for President Obama not to force the European countries to do something they cannot.” (France 24)


But, London’s The Guardian said the U.S. has not given up on trying to press other countries for economic stimulus measures.

“The most gaping division between the leaders is about the extent to which they can spend their way out of this crisis. The Americans are pressing the other major players to join them in a massive fiscal stimulus to breathe life back into the world economy.” (guardian.co.uk)

The Wall Street Journal is already predicting the summit will fall short of its sweeping goals.

“It was supposed to be the inauguration of a Global New Deal…a comprehensive policy response to the world economic crisis, a root-and-branch effort to reorder the way capitalism itself works… European leaders continued to insist they wouldn't agree to U.S. and British calls for further fiscal stimulus for their ailing economies.” (The Wall Street Journal)

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The New York Times takes the view that the United States isn’t in a position to tell other countries how to run their economies.

“Despite his immense popularity around the world, Mr. Obama will confront resentment over American-style capitalism and resistance to his economic prescriptions when he lands in London.” (The New York Times)

Do you think a summit of world leaders can turn the global economy around? Do you think more regulation or more spending is the answer?

We invite you to leave your comments on this story at Newsy.com and take a look at our sources.