LOS CABOS, Mexico - President Obama Monday morning expressed approval for the results of the Greek election.

"I think the election in Greece yesterday indicates a positive prospect for not only them forming a government, but also them working constructively with their international partners in order that they can continue on the path of reform and do so in a way that also offers the prospects for the Greek people to succeed and prosper," President Obama said today alongside Mexican President Felipe Calderon.

A senior White House official told ABC News that the president - and the world - breathed a sigh of relief upon hearing the election results, which mean the new Greek government will seek to stay in the Eurozone.

"And we are going to be working under your leadership and with our European partners, and with all countries," Mr. Obama said, "to make sure that we're contributing so that the economy grows, the situation stabilizes, confidence returns to the markets and, most importantly we're giving our people the chance if they work hard to succeed and do well."

"Obviously we are going to be very busy over the next day and a half," the U.S. president said of the G-20 summit, adding that "the world is very concerned about the slowing of growth that has taken place."

"Now is a time as we've discussed to make sure that all of us do what's necessary to stabilize the world financial system, to avoid protectionism," Mr. Obama said. The summit will allow them to take "one important step in a series of steps that are going to be required to continue to improve global economic prospects."

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