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

Bernie Sanders Surge Reflects US Shift on Socialism

Although most analysts say it is unlikely he will get the Democratic nomination, Sanders' campaign opens up questions and issues that are otherwise marginalized More

Crowdfunding Helps Save Neil Armstrong's Spacesuit

Smithsonian turns to Kickstarter to raise more than $700,000 to help preserve the spacesuit worn by the first man to walk on the moon More

Video On IS Frontline, Kurdish Fighters Ready for Offensive

Peshmerga soldiers say although they need more heavy artillery, they are poised to take the fight to the Islamic State extremists on their turf 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.
Drowned Migrant Toddler Photo Triggers European Outragei
X
Henry Ridgwell
September 04, 2015 11:36 AM
The harrowing picture of a drowned three-year-old Syrian boy washed up on a Turkish beach appears to have galvanized Europe’s leaders into doing more to address the refugee crisis. France, Germany and Italy issued a joint call Thursday for compulsory quotas of refugees for all EU states. But there were chaotic scenes in Hungary as police tried to force migrants off a train heading for Austria. Henry Ridgwell has more. And a caution, some of the images in this report may be disturbing.
Video

Video Drowned Migrant Toddler Photo Triggers European Outrage

The harrowing picture of a drowned three-year-old Syrian boy washed up on a Turkish beach appears to have galvanized Europe’s leaders into doing more to address the refugee crisis. France, Germany and Italy issued a joint call Thursday for compulsory quotas of refugees for all EU states. But there were chaotic scenes in Hungary as police tried to force migrants off a train heading for Austria. Henry Ridgwell has more. And a caution, some of the images in this report may be disturbing.
Video

Video Russians Observe 11th Anniversary of Beslan School Attack

This week, Russians have been observing the 11th anniversary of the attack by Islamic militants on a school in Russia's North Caucasus region that killed more than 330 hostages, including 186 children. The three-day siege and massacre that started on September 1, 2004 took place in Beslan, a town in the republic of North Ossetia, and is one of the bloodiest terrorist acts ever in Russia. VOA's Mike Richman reports.
Video

Video Native Americans Debate: Father Serra, Saint or Sinner?

Pope Francis will canonize an 18th century missionary to Spanish California during a papal visit to the United States this month.  But some Native Americans have criticized the elevation to sainthood of the missionary priest, Junipero Serra. VOA's Mike O’Sullivan has more from Los Angeles.
Video

Video Calais School Offers Another Face of Europe’s Migrant Crisis

Europe is facing mounting criticism over how it’s handling its biggest migration crisis since World War II. But not all Europeans believe building walls or passing repressive policies are the answer. A school for migrants in the French port city of Calais, is opening doors and building bonds across nationalities. VOA's Lisa Bryant reports.
Video

Video Kurdish Fighters on IS Frontline Ready for Offensive

Finger on the trigger, the Kurdish Peshmerga soldier stared across the dust at a village taken over by Islamic State extremists. The Kurdistan’s Khazir frontline, just 45 minutes from the Islamic State stronghold of Mosul. And at this point, the militants were less than two kilometers away. VOA's Sharon Behn reports.
Video

Video China Announces Troop Cuts at WWII Parade

Chinese President Xi Jinping Thursday announced plans to cut the world’s largest military force by 300,000 troops. The announcement was made during a massive military parade to commemorate victory over Japan in World War II. The event was shunned by most Western leaders and for some is raising fresh concerns about China’s military ambitions. VOA’s Bill Ide has more from Beijing.
Video

Video Russia-Japan Relations Cool as Putin Visits China for WWII Anniversary

Russian President Vladimir Putin is in Beijing for commemorations of the 70th anniversary of China's WWII victory over Japan. Putin is expected to visit Japan later this year, but tensions between Tokyo and Moscow over islands disputed since the war, and sanctions over Ukraine, could pour cold water on the plan. VOA's Daniel Schearf reports.
Video

Video Yemen ‘on Brink of Disaster’ as Medical Shortages Soar

Aid agencies warn Yemen is on the brink of humanitarian disaster – with up to half a million children facing severe malnutrition, and hospitals running out of basic medicines. There are fears Yemen's civil war could escalate as the coalition led by Saudi Arabia tries to drive back Houthi rebels, who seized control of much of the country earlier this year. Henry Ridgwell reports.
Video

Video Apps Helping Kenyan Businesses Stay Ahead of Counterfeiters

Counterfeit goods in Kenya cost the government as much as $1 billion each year in lost tax revenues. The fake goods also hurt entrepreneurs who find it hard to carve out a niche in the market and retain customers. But as Lenny Ruvaga reports from Nairobi, information technology is being used to try to beat the problem.
Video

Video Nobel Prize Winner Malala Talks to VOA

Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video War, Drought Threaten Iraq's Marshlands

Iraq's southern wetlands are in crisis. These areas are the spawning ground for Gulf fisheries, a resting place for migrating wildfowl, and source of livelihood for fishermen and herders. Faith Lapidus has more.
Video

Video Colombians Flee Venezuela as Border Crisis Escalates

Hundreds of Colombians have fled Venezuela since last week, amid an escalating border crisis between the two countries. Last week, Venezuelan President Nicolas Maduro ordered the closure of a key border crossing after smugglers injured three Venezuelan soldiers and a civilian. The president also ordered the deportation of Colombians who are in Venezuela illegally. Zlatica Hoke reports.
Video

Video Rebuilding New Orleans' Music Scene

Ten years after Hurricane Katrina inundated New Orleans, threatening to wash away its vibrant musical heritage along with its neighborhoods, the beat goes on. As Bronwyn Benito and Faith Lapidus report, a Musicians' Village is preserving the city's unique sound.
Video

Video In Russia, Auto Industry in Tailspin

Industry insiders say country relies too heavily on imports as inflation cuts too many consumers out of the market. Daniel Schearf has more from Moscow.
Video

Video Scientist Calls Use of Fetal Tissue in Medical Research Essential

An anti-abortion group responsible for secret recordings of workers at a women's health care organization claims the workers shown are offering baby parts for sale, a charge the organization strongly denies. While the selling of fetal tissue is against the law in the United States, abortion and the use of donated fetal tissue for medical research are both legal. VOA’s Julie Taboh reports.

VOA Blogs