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easing the Spanish crisis by reassuring investors that Spain's treasury won't end up eating the costs of the up to 100 billion euro rescue of Spain's banks announced this month. Fears that the responsibility of paying back the bailout would fall on its government helped drive Spain's borrowing costs above the dangerously high 7 percent level.
• "Euro area members of the G20 will take all necessary policy measures to safeguard the integrity and stability of the area ... and break the feedback loop between sovereigns and banks," the statement says.
• It also places the G-20 on the side of those who have been arguing for a focus on job creation, including through government spending, instead of the budget cutbacks and austerity pushed most notably by German Chancellor Angela Merkel.
• ___

• LOS CABOS, Mexico (AP) -- Needing an economic boost, President Barack Obama is trying to land assurances that Europe is closing in on a financial crisis response that will calm the markets and keep the continent's woes from undermining the world. As he presses European leaders to drum up economic demand, they want promises the United States won't plunge off a fiscal cliff by year's end.
• Obama, as leader of the giant but struggling U.S. economy, remains central to the Group of 20 summit talks wrapping up Tuesday in this coastal resort region. But it is the European members gathered here, led by Germany and its chancellor, An

gela Merkel, who carry both the power and responsibility to stabilize a eurozone reeling from debt, banking and political problems.
• Obama sent some upbeat signals Monday amid a sense of global relief that Greece, based on new elections, would not renege on its bailout terms and ditch the euro currency. Obama left a meeting with Merkel feeling "encouraged" about Europe's direction, a spokesman said, as an even more consequential European summit on the crisis approaches in Brussels.
• Europe's ability to turn around its fortunes fast will have direct bearing on whether Obama wins a second term. The bigger the drag from abroad, the harder the job growth in the United States.
• Obama said all countries must "make sure that we're contributing so that the economy grows, the situation stabilizes, confidence returns to the markets, and most importantly, we're giving our people the chance if they work hard to succeed and do well." After lobbying for Greek voters to stick with budget reforms and the

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