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Podium: America cannot confront the challenges of this century alone

Not more than a generation ago, it would have been difficult to imagine that the inability of somebody to pay for a house in Florida could contribute to the failure of the banking system in Iceland. Today what's difficult to imagine is that we did not act sooner to shape our future.

Now, there's plenty of blame to go around for what has happened, and the United States certainly shares it – shares blame for what has happened. But every nation bears responsibility for what lies ahead, especially now, for whether it's the recession or climate change, or terrorism, or drug trafficking, poverty, or the proliferation of nuclear weapons, we have learned that without a doubt there's no quarter of the globe that can wall itself off from the threats of the 21st century.

The one way forward – the only way forward – is through a common and persistent effort to combat fear and want wherever they exist. That is the challenge of our time – and we can not fail to meet it, together.

Such an effort is never easy. It's always harder to forge true partnerships and sturdy alliances than to act alone. So we must be honest with ourselves. In recent years we've allowed our Alliance to drift. I know that there have been honest disagreements over policy, but we also know that there's something more that has crept into our relationship. In America, there's a failure to appreciate Europe's leading role in the world. Instead of seeking to partner with you to meet common challenges, there have been times where America has shown arrogance and been dismissive, even derisive.

But in Europe, there is an anti-Americanism that is at once casual but can also be insidious. Instead of recognizing the good that America so often does in the world, there have been times where Europeans choose to blame America for much of what's bad.

On both sides of the Atlantic, these attitudes have become all too common. They are not wise. They do not represent the truth. They threaten to widen the divide across the Atlantic and leave us both more isolated. They fail to acknowledge the fundamental truth that America cannot confront the challenges of this century alone, but that Europe cannot confront them without America.

The US President was speaking at an open meeting at Strasbourg Town Hall