G20 aims to ease financial crisis

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Members of the G20, which represent about 85 percent of the world economy, will be meeting Thursday and Friday in Pittsburgh. US President Barack Obama is expected to press for reforms aimed at easing global economic imbalances, to prevent a repeat of the financial crisis.

The US President is calling on world leaders to craft plans to reshape the global economy in response to the deepest financial crisis since the Great Depression.

Barack Obama, U.S. President, said, "And we know we still have a lot to do, in conjunction with nations around the world, to strengthen the rules governing financial markets and ensure that we never again find ourselves in the precarious situation we found ourselves in just one year ago."

But some analysts think recent welcome news that the economy is recovering could hamper reform efforts.

Daniel Price, Sidley Austin Law Firm, said, "...there is a risk, as we begin to turn the corner, it leads to complacency about pursuing an aggressive regulatory reform agenda."

German Chancellor Angela Merkel, who is seeking re-election next weekend, says she's "thoroughly optimistic" that a deal could be done on reforming financial markets.