November 5 - Obama victory met with calls for global action

NEW YORK (Reuters) - U.S. President-elect Barack Obama stepped into his new role on Wednesday facing calls for urgent action to stem the global financial crisis as he was hit with gloomy news about U.S. jobs and the service sector.

"The need for a seamless transition is greater than it has been in our adult political lifetime," said William Galston, a former domestic policy adviser to President Bill Clinton. "With two wars abroad and an international financial crisis going on, there cannot be a period in which the new administration is just getting up to speed," Galston said.

"We need to change the current crisis into a new opportunity. We need a new deal for a new world," said European Commission President Jose Manuel Barroso. "I sincerely hope that with the leadership of President Obama, the United States of America will join forces with Europe to drive this new deal."

"The forces at work in the global capital markets are very big, bigger than who gets elected president of the United States. People should be prepared for a deep economic downturn in the U.S.," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

"I know Barack Obama and we share many values. We both have determination to show that government can act to help people fairly through these difficult times facing the global economy," British Prime Minister Gordon Brown said.