Brown, Sarkozy need Obama following Europe's bailout

Europe took the initiative to create a system to bail out crisis-stricken banks and the US followed. Now British Prime Minister Gordon Brown and French President Nicolas Sarkozy need Barack Obama to lead in repairing the damage to the global economy.

With the recessionary US propelling industrial countries toward their biggest slump since 1982, how fast Obama can deliver a rebound at home will help guide the recovery in Europe and Asia. For all of its woes, the US economy is still larger than that of the 15 euro nations.

"People are dying for economic leadership from the US, as no other country is capable of delivering it," said Denis MacShane, a UK lawmaker in the ruling Labour Party and former foreign office minister.