G20 Summit has world leaders tackling economic issues

9:14 AM, Jun 19, 2012   |    comments
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WASHINGTON (CBS) -- World leaders at the G20 Summit in Mexico appear to have a plan to help Europe's economic problems from spreading to the rest of the world.

Fireworks lit up the skies of Los Cabos, Mexico where the G20 summit is being held. But they were being set off as word spread that the group will announce today to fight the economic crisis in Europe.

The plan calls for government spending to create jobs and growth, something President Obama has been pushing for. President Obama says, "So that the economy grows, the situation stabilizes, confidence returns to the markets."

This comes amid concerns that Spain may need a bailout as a result of high interest rates on money it borrows. Economist Stephen Guilfoyle says, "They really can't afford to borrow."

A separate discussion also took place at the summit, between President Obama and Russian president Vladimir Putin. This one lasted far longer than expected. U.S. Ambassador to Russia Mike McFaul says, "So the fact that the meeting went for two hours, that was because they were talking about Syria and they didn't want to stop talking about Syria."

CBS News has learned Russia is loading two ships in the black sea with arms and ammunition. A third, carrying attack helicopters is headed for Syria. The Russians say they are heading to Syria to secure the Russian naval base there. White House Deputy National Security Adviser Ben Rhodes says, "We'll have to monitor it very closely and determine whether they're doing anything beyond that."

Following the discussion, some noted both presidents appeared aloof toward one another. McFaul says, "The body language stuff, I've been in a lot of meetings with Putin, I've watched a lot of video of him. There was nothing extraordinary. That's just, that's the way he looks. That's the way he acts. I wouldn't read anything into that at all."

Both leaders said Syrians should choose their own next government. This was President Obama and Putin's first face-to-face meeting since Putin was re-elected president.