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Obama says sees glimmer of economic stabilization

Published 03/29/2009, 06:40 PM
Updated 03/29/2009, 06:48 PM

WASHINGTON, March 29 (Reuters) - President Barack Obama said in an interview published on Sunday that he saw "glimmers of stabilization" in some areas of the U.S. economy, including pockets of the domestic housing market.

"We're seeing glimmers of stabilization in the economies," Obama told the Financial Times in an interview published on Sunday before the G20 summit. "Here in the United States for example, you're starting to see pockets of stabilization in the housing market."

Obama told the newspaper he hoped G20 leaders would adopt a "robust approach to stimulus" during their meeting, would take steps to deal with toxic assets in the banking sector and would move ahead on regulatory reform, including dealing with offshore tax havens.

"We don't want people to be able to game the system or circumvent regulated capital markets," Obama said. (Editing by Chris Wilson)

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