News / Economy

    G8 Summit Under Way in France

    Men work near a G8 backdrop as preparations continue ahead of the G8 summit in Deauville, northern France, May 25, 2011
    Men work near a G8 backdrop as preparations continue ahead of the G8 summit in Deauville, northern France, May 25, 2011

    The Group of Eight summit is under way in France, with heads of the world's leading economies discussing global issues, including the uprisings sweeping the Middle East and North Africa.

    U.S. President Barack Obama is using the gathering to reinforce his call for international assistance to help countries in that region adopt political and economic reforms.

    One of the president's economic advisers, David Lipton, told reporters Thursday the U.S. considers discussions on the Middle East and North Africa to be "among the most important things" to be done at the summit.

    He said G8 leaders will begin the talks at dinner Thursday and meet with the prime ministers of Egypt and Tunisia and the head of the Arab League on Friday morning.  He said the G8 leaders will have a chance to discuss with the three regional representatives their plans and aspirations for change, and ways in which the international community can help.

    Obama outlined ways the U.S. will provide economic support to Egypt, Tunisia and other nations transitioning to democracy in a key policy speech last week.  On Wednesday, the European Union said it will increase its aid to 16 countries in the Middle East, North Africa and the former Soviet Union, and that the aid will be linked to their progress toward democracy.

    Other topics of discussion at this week's G8 gathering in the French resort town of Deauville include Japan's nuclear crisis and the world economy.

    President Obama met with Russian President Dmitry Medvedev Thursday on the sidelines of the summit.  Obama said the two countries agreed to work on the contentious issue of U.S. plans to build a missile defense shield in Central and Eastern Europe.  He said they committed to working together to find an approach that is "consistent with the security needs of both countries."

    Speaking to reporters alongside Obama, Medvedev said the missile defense issue would be solved by future politicians, but that he and Obama could lay the foundation now.

    The two leaders also discussed Russia's bid to enter the World Trade Organization.  President Obama said Russia's entry would be good for the economy and expressed confidence it could be done.

    The Russian president announced with his French counterpart, Nicolas Sarkozy, an agreement for France to sell four warships to Russia.  The leaders told reporters at the G8 summit that the deal would be signed within two weeks.  Under the agreement, two of the Mistral-class helicopter carriers will be built in France and the other two in Russia.

    Sarkozy is chairing the G8 gathering.  It is the first major world meeting since former International Monetary Fund chief Dominique Strauss-Kahn resigned after being charged with trying to rape a hotel maid in New York City.  It is unclear who will replace him.

    President Obama came to France after a state visit to Britain, where he met with Prime Minister David Cameron.  The two leaders reaffirmed their stance on Libya, saying allied military operations there will continue until leader Moammar Gadhafi stops attacking civilians and gives up power.

    At a joint news conference Wednesday in London, President Obama said there will be no letup in the pressure on Gadhafi.  He later told the British parliament that the U.S., Britain and their allies "stopped a massacre in Libya" and will not relent until what he called "the shadow of tyranny" is lifted.

    Some information for this report was provided by AP, AFP and Reuters.

    You May Like

    US Lawmakers Vow to Continue Immigrant Program for Afghan Interpreters

    Congressional inaction threatens funding for effort which began in 2008 and has allowed more than 20,000 interpreters, their family members to immigrate to US

    Leaderless, Rudderless, Britain Drifts

    Experts predicted chaos would follow, if Britain decided to vote for Brexit, and chaos has

    US to Train Cambodian Government on Combating Cybercrime

    Concerns raised over drafting of law, as critics fear cybercrime regulations could be used to restrict freedom of expression and stifle political dissent

    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.
    Testing Bamboo as Building Materiali
    X
    June 27, 2016 9:06 PM
    For thousands of years various species of bamboo - one of the world's most versatile plants - have been used for diverse purposes ranging from food and medicine to textiles and construction. But its use on a large scale is hampered because it's not manufactured to specific standards but grown in the ground. A University of Pittsburgh professor is on track to changing that. VOA’s George Putic reports.
    Video

    Video Testing Bamboo as Building Material

    For thousands of years various species of bamboo - one of the world's most versatile plants - have been used for diverse purposes ranging from food and medicine to textiles and construction. But its use on a large scale is hampered because it's not manufactured to specific standards but grown in the ground. A University of Pittsburgh professor is on track to changing that. VOA’s George Putic reports.
    Video

    Video Orphanage in Iraqi City Houses Kids Who Lost their Parents to Attacks by IS

    An orphanage in Iraqi Kurdistan has become home to scores of Yazidi children who lost their parents after Islamic State militants took over Sinjar in Iraq’s Nineveh Province in 2014. Iraqi Kurdish forces backed by the U.S. airstrikes have since recaptured Sinjar but the need for the care provided by the orphanage continues. VOA’s Kawa Omar filed this report narrated by Rob Raffaele.
    Video

    Video Re-Opening Old Wounds in a Bullet-Riddled Cultural Landmark

    A cultural landmark before Lebanon’s civil war transformed it into a nest of snipers, Beirut’s ‘Yellow House’ is once again set to play a crucial role in the city.  Built in a neo-Ottoman style in the 1920s, in September it is set to be re-opened as a ‘memory museum’ - its bullet-riddled walls and bunkered positions overlooking the city’s notorious ‘Green Line’ maintained for posterity. John Owens reports from Beirut.
    Video

    Video Brexit Resounds in US Presidential Contest

    Britain’s decision to leave the European Union is resounding in America’s presidential race. As VOA’s Michael Bowman reports, Republican presumptive nominee Donald Trump sees Britain’s move as an affirmation of his campaign’s core messages, while Democrat Hillary Clinton sees the episode as further evidence that Trump is unfit to be president.
    Video

    Video New York Pride March A Celebration of Life, Mourning of Loss

    At this year’s march in New York marking the end of pride week, a record-breaking crowd of LGBT activists and allies marched down Manhattan's Fifth Avenue, in what will be long remembered as a powerful display of solidarity and remembrance for the 49 victims killed two weeks ago in an Orlando gay nightclub.
    Video

    Video NASA Juno Spacecraft, Nearing Jupiter, to Shed Light on Gas Giant

    After a five-year journey, the spacecraft Juno is nearing its destination, the giant planet Jupiter, where it will enter orbit and start sending data back July 4th. As Mike O'Sullivan reports from Pasadena, California, the craft will pierce the veil of Jupiter's dense cloud cover to reveal its mysteries.
    Video

    Video Orlando Shooting Changes Debate on Gun Control

    It’s been nearly two weeks since the largest mass shooting ever in the United States. Despite public calls for tighter gun control laws, Congress is at an impasse. Democratic lawmakers resorted to a 1960s civil rights tactic to portray their frustration. VOA’s Carolyn Presutti explains how the Orlando, Florida shooting is changing the debate.
    Video

    Video Tunisian Fishing Town Searches for Jobs, Local Development Solutions

    As the European Union tries to come to grips with its migrant crisis, some newcomers are leaving voluntarily. But those returning to their home countries face an uncertain future.  Five years after Tunisia's revolution, the tiny North African country is struggling with unrest, soaring unemployment and plummeting growth. From the southern Tunisian fishing town of Zarzis, Lisa Bryant takes a look for VOA at a search for local solutions.
    Video

    Video 'American Troops' in Russia Despite Tensions

    Historic battle re-enactment is a niche hobby with a fair number of adherents in Russia where past military victories are played-up by the Kremlin as a show of national strength. But, one group of World War II re-enactors in Moscow has the rare distinction of choosing to play western ally troops. VOA's Daniel Schearf explains.
    Video

    Video Muslim American Mayor Calls for Tolerance

    Syrian-born Mohamed Khairullah describes himself as "an American mayor who happens to be Muslim." As the three-term mayor of Prospect Park, New Jersey, he believes his town of 6,000 is an example of how ethnicity and religious beliefs should not determine a community's leadership. Ramon Taylor has this report from Prospect Park.
    Video

    Video Internal Rifts Over Syria Policy Could Be Headache for Next US President

    With the Obama administration showing little outward enthusiasm for adopting a more robust Syria policy, there is a strong likelihood that the internal discontent expressed by State Department employees will roll over to the next administration. VOA State Department correspondent Pam Dockins reports.
    Video

    Video Senegal to Park Colorful ‘Cars Rapides’ Permanently

    Brightly painted cars rapide are a hallmark of Dakar, offering residents a cheap way to get around the capital city since 1976. But the privately owned minibuses are scheduled to be parked for good in late 2018, as Ricci Shryock reports for VOA.

    Special Report

    Adrift The Invisible African Diaspora

    World Currencies

    EUR
    USD
    0.9092
    JPY
    USD
    101.65
    GBP
    USD
    0.7583
    CAD
    USD
    1.3047
    INR
    USD
    67.954

    Rates may not be current.