President Obama held a videoconference with German Chancellor Angela Merkel, French President Nicolas Sarkozy, and British Prime Minister David Cameron. They discussed developments in Libya and the European financial crisis. Chancellor Merkel and President Sarkozy fully understand the urgency of the issues in the Eurozone and are working diligently to develop a comprehensive solution that addresses the challenge and which will be politically sustainable. They agreed to continue to consult closely as they prepare to meet at the G-20 Summit in Cannes in early November. They welcomed the end of the Qaddafi regime and agreed that it is an extraordinary day for the NATO-led coalition and above all the Libyan people.