Reporter: Thank you, Mr. President. Can you say with confidence that the steps the G20 nations are taking today -- committing to today will help the world, or will prevent the world to avoid a depression or a deeper recession?

PRESIDENT OBAMA: In life there are no guarantees; in economics there are no guarantees. The people who thought they could provide guarantees, many of them worked at AIG and it didn't work out so well. So there are always risks involved.

I have no doubt, though, that the steps that have been taken are critical to preventing us sliding into a depression. They are bolder and more rapid than any international response that we've seen to a financial crisis in memory. And I think that they will have a concrete effect in our ability, individually, in each nation, to create jobs, save jobs that exist, grow the economy, loosen up credit, restore trust and confidence in the financial markets.

So these steps -- another way of putting it is I think the steps in the communiqué were necessary. Whether they're sufficient, we've got to -- we've got to wait and see. I'm actually confident, though, that given the common commitment in the United States and in the other G20 countries to act rapidly and boldly, that if we see other inklings of panic in the marketplace, or things unwinding, that this group, once again, will respond as needed.

So I guess maybe just to use an analogy that was used several times in this meeting, an analogy that I've used in the past: You got a sick patient; I think we applied the right medicine; I think the patient is stabilized; there's still wounds that have to heal and there's still emergencies that could arise, but I think that you've got some pretty good care being applied.