G8 Leaders Meeting at Camp David Saturday Embracing Growth
G8 Leaders may be Grasping Reality
G8 world leaders meeting with President Obama at Camp David on Saturday found themselves agreeing that some things must be done, and soon, to turn Europe's imploding financial condition around, lest that another historic and global deep recession ensues.
The Group of Eight Summit includes the US, Japan, Britain, Germany, France, Italy, Canada and Russia.
CNBC
Obama Says Euro Zone Crisis Threatens Global Economy
Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.
"There's now an emerging consensus that more must be done to promote growth and job creation right now," Obama proclaimed after hosting unprecedented economic talks at Camp David, his secluded and highly secure mountaintop retreat. Seeking a second term amid hard economic times, Obama hailed a debate heading in the direction he likes, with nations now talking of ways to spark their economies instead of just slashing spending...
New York Times
World Leaders Urge Growth, Not Austerity
CAMP DAVID, Md. - Leaders of the world’s richest countries banded together on Saturday to press Germany to back more pro-growth policies to halt the deepening debt crisis in Europe, as President Obama for the first time gained widespread support for his argument that Europe, and the United States by extension, cannot afford Chancellor Angela Merkel’s one-size-fits-all approach emphasizing austerity.
Pointedly recognizing “that the right measures are not the same for each of us,” the leaders of the Group of 8 nations, at a meeting hosted by Mr. Obama at Camp David, committed to “take all necessary steps” to strengthen their economies. They said they wanted to keep Greece in the euro zone and vowed to work to promote growth in Europe, though behind the scenes distinct differences remained over what kinds of stimulus policies to pursue.
“Our imperative,” the leaders said in their statement, “is to promote growth and jobs.” ...
G8 world leaders meeting with President Obama at Camp David on Saturday found themselves agreeing that some things must be done, and soon, to turn Europe's imploding financial condition around, lest that another historic and global deep recession ensues.
The Group of Eight Summit includes the US, Japan, Britain, Germany, France, Italy, Canada and Russia.
CNBC
Obama Says Euro Zone Crisis Threatens Global Economy
Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.
"There's now an emerging consensus that more must be done to promote growth and job creation right now," Obama proclaimed after hosting unprecedented economic talks at Camp David, his secluded and highly secure mountaintop retreat. Seeking a second term amid hard economic times, Obama hailed a debate heading in the direction he likes, with nations now talking of ways to spark their economies instead of just slashing spending...
New York Times
World Leaders Urge Growth, Not Austerity
CAMP DAVID, Md. - Leaders of the world’s richest countries banded together on Saturday to press Germany to back more pro-growth policies to halt the deepening debt crisis in Europe, as President Obama for the first time gained widespread support for his argument that Europe, and the United States by extension, cannot afford Chancellor Angela Merkel’s one-size-fits-all approach emphasizing austerity.
Pointedly recognizing “that the right measures are not the same for each of us,” the leaders of the Group of 8 nations, at a meeting hosted by Mr. Obama at Camp David, committed to “take all necessary steps” to strengthen their economies. They said they wanted to keep Greece in the euro zone and vowed to work to promote growth in Europe, though behind the scenes distinct differences remained over what kinds of stimulus policies to pursue.
“Our imperative,” the leaders said in their statement, “is to promote growth and jobs.” ...