News / USA

G8 Leaders Vow to Promote Economic Growth

World leaders attend the family photo session during the G8 Summit at Camp David, Maryland, May 19, 2012.World leaders attend the family photo session during the G8 Summit at Camp David, Maryland, May 19, 2012.
x
World leaders attend the family photo session during the G8 Summit at Camp David, Maryland, May 19, 2012.
World leaders attend the family photo session during the G8 Summit at Camp David, Maryland, May 19, 2012.
VOA News
Leaders of the G8 highly industrialized countries say promoting growth and jobs is their "imperative" as they seek to reinvigorate their economies in the face of the European debt crisis.

In a statement Saturday, the Group of Eight leaders also expressed their desire for Greece to remain in the eurozone and respect its commitments. The debt-ridden nation could abandon the euro to escape austerity measures, or be forced out if it fails to meet its obligations.

The G8 leaders focused on Europe's economic turmoil Saturday as they met at the Camp David presidential retreat near Washington for the second day of their annual summit.

In their formal statement, the participants said they commit to take "all necessary steps" to strengthen their economies and combat financial stresses.

German Chancellor Angela Merkel, whose nation has pushed stiff austerity measures for deeply indebted countries like Greece, said all the leaders agreed that fiscal discipline must be balanced with efforts to encourage growth.

"We completely agreed that we need both - fiscal discipline, restructuring of our budgets and at the same time all efforts for growth," said Merkel.  "The two determine each other, that means it is important to work on both tracks. All participants made this clear here today and we think that is significant progress."

  • Security personnel watch as the airplane carrying French President Francois Hollande and his companion Valerie Trierweiler arrives for the G-8 Summit at Dulles International Airport in Chantilly May 18, 2012.
  • An American Honor Guard greets the French Delegation as their plane arrives at Dulles International Airport.
  • French President Francois Hollande and his companion Valerie Trierweiler arrive for the G-8 Summit at Dulles International Airport.
  • Italian Prime Minister Mario Monti, left, walks to a motorcade upon his arrival at Dulles International Airport.
  • Oxfam activist wearing masks depicting G-8 world leaders participate in a demonstration outside the White House in Washington, May 17, 2012.
  • Jim Stull, 78, a life long resident of Thurmont, Maryland, places American flags along an exit ramp that will be traveled by dignitaries motorcading to Camp David for the G-8 Summit.

Pro-growth

Before the conference opened, U.S. President Barack Obama said he would press his fellow G8 leaders (from Britain, Germany, France, Italy, Japan, Canada and Russia) to give more weight to pro-growth measures as they combat the mounting debt that has threatened the stability of the eurozone.

"All of us are absolutely committed to making sure that both growth and stability, and fiscal consolidation, are part of [an] overall package that all of us have to pursue in order to achieve the kind of prosperity for our citizens that we're looking for," said Obama.

President Obama said the participants would also talk about uncertainty in the energy markets and developments in the Middle East, North Africa and Afghanistan.

Obama said Friday's dinner talks gave the officials a chance to discuss core issues affecting their nations' common security, including Iran, Syria and North Korea.

Iran

Regarding Iran's nuclear program, Obama said the G8 is firmly committed to continuing with the approach of sanctions and pressure in combination with diplomatic discussions.

"I want to say that we are unified when it comes to our approach with Iran," said Obama.  "I think all of us agree that Iran has the right to peaceful nuclear power, but that its continuing violations of international rules and norms and its inability thus far to convince the world community that it's not pursuing the weaponization of nuclear power is something of grave concern to all of us."

Syria

Regarding the ongoing violence in Syria, he said the eight world powers support the peace plan brokered by international envoy and former U.N. chief Kofi Annan, but want to see the situation improve more quickly.

"We all believe that a peaceful resolution and political transition in Syria is preferable," Obama noted.  "We are all deeply concerned about the violence that's taking place there and the loss of life. We are supportive of the Annan plan, but we agreed, and I expect this will be reflected in our communique, that the Annan plan has to be fully implemented and that a political process has to move forward in a more timely fashion to resolve that issue."

North Korea

The leaders also discussed North Korea, with Obama saying they all agree the North Koreans are violating their international obligations and that they will not be able to rejoin the international community if they continue with the "provocative actions" he said they have shown over the last several months.

Other topics of discussion included Burma's political transformation and the issue of women's empowerment.

President Obama described the conversation as "fruitful," "frank" and "useful" and said it gives him great optimism about the G8's ability to meet these challenges.

The Camp David summit is part of four days of diplomacy for President Obama who departs, late Saturday, to a NATO summit in Chicago. NATO officials will focus on the war in Afghanistan.

You May Like

Arrested Football Officials Come Mainly From the Americas

US Justice Department alleges defendants participated in 24-year scheme to enrich themselves through corruption of international soccer More

Video Kenyans Lament Al-Shabab's Recruitment of Youths

VOA travels to Isiolo, where residents share their fears, struggles to get loved ones back from Somalia-based militant group More

This US Epidemic Keeps Getting Worse

One in 4 Americans suffers from this condition More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
A Small Oasis on Kabul's Outskirts Provides Relief From Security Tensionsi
X
May 26, 2015 11:11 PM
When people in Kabul want to get away from the city and relax, many choose Qargha Lake, a small resort on the outskirts of Kabul. Ayesha Tanzeem visited and talked with people about the precious oasis.
Video

Video A Small Oasis on Kabul's Outskirts Provides Relief From Security Tensions

When people in Kabul want to get away from the city and relax, many choose Qargha Lake, a small resort on the outskirts of Kabul. Ayesha Tanzeem visited and talked with people about the precious oasis.
Video

Video Film Festival Looks at Indigenous Peoples, Culture Conflict

A recent Los Angeles film festival highlighted the plight of people caught between two cultures. Mike O'Sullivan has more on the the Garifuna International Film Festival, a Los Angeles forum created by a woman from Central America who wants the world to know more about her culture.
Video

Video Kenyans Lament Losing Sons to al-Shabab

There is agony, fear and lost hope in the Kenyan town of Isiolo, a key target of a new al-Shabab recruitment drive. VOA's Mohammed Yusuf visits Isiolo to speak with families and at least one man who says he was a recruiter.
Video

Video Scientists Say Plankton More Important Than Previously Thought

Tiny ocean creatures called plankton are mostly thought of as food for whales and other large marine animals, but a four-year global study discovered, among other things, that plankton are a major source of oxygen on our planet. VOA’s George Putic reports.
Video

Video US-led Coalition Gives Some Weapons to Iraqi Troops

In a video released Tuesday from the Iraqi Ministry of Defense, Iraqi forces and U.S.-led coalition troops survey a cache of weapons supplied to help Iraq liberate Mosul from Islamic State group. According to a statement provided with the video, the ministry and the U.S.-led coaltion troops have started ''supplying the 16th army division with medium and light weapons in preparation to liberate Mosul and nearby areas from Da'esh (Arabic acronym for Islamic State group).''
Video

Video Amnesty International: 'Overwhelming Evidence' of War Crimes in Ukraine

Human rights group Amnesty International says there is overwhelming evidence of ongoing war crimes in Ukraine, despite a tentative cease-fire with pro-Russian rebels. Researchers interviewed more than 30 prisoners from both sides of the conflict and all but one said they were tortured. Henry Ridgwell reports for VOA from London.
Video

Video Washington Parade Honors Those Killed Serving in US Military

Every year, on the last Monday in the month of May, millions of Americans honor the memories of those killed while serving in the armed forces. Memorial Day is a tradition that dates back to the 19th Century. While many people celebrate the federal holiday with a barbecue and a day off from work, for those who’ve served in the military, it’s a special day to remember those who made the ultimate sacrifice. Arash Arabasadi reports for VOA from Washington.
Video

Video Kenya’s Capital Sees Rise in Shisha Parlors

In Kenya, the smoking of shisha, a type of flavored tobacco, is the latest craze. Patrons are flocking to shisha parlors to smoke and socialize. But the practice can be addictive and harmful, though many dabblers may not realize the dangers, according to a new review. Lenny Ruvaga has more on the story for VOA from Nairobi, Kenya.
Video

Video Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam War

For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Female American Soldiers: Healing Through Filmmaking

According to the United States Defense Department, there are more than 200-thousand women serving in the U.S. Armed Forces.  Like their male counterparts, females have experiences that can be very traumatic.  VOA's Bernard Shusman tells us about a program that is helping some American women in the military heal through filmmaking.

VOA Blogs