News / Economy

G8 Leaders Ready to Debate Politics of Finance

Police patrol in front of the Deauville Congress Center, May 22, 2011
Police patrol in front of the Deauville Congress Center, May 22, 2011
Lisa Bryant

The world economy, nuclear safety, the Arab Spring and African development will be on the agenda in Deauville, France, where leaders of the Group of Eight leading economies gather Thursday and Friday.

Along with the official menu of topics, the one not listed on the Group of Eight agenda may likely dominate discussions by world leaders who gather in Deauville; selecting the next International Monetary Fund chief.

European leaders are backing French Finance Minister Christine Lagarde, to replace fellow Frenchman Dominique Strauss-Kahn, who resigned as IMF chief earlier this month after being charged with sexual assault.  The post has a traditionally gone to a European.  But emerging economies argue it should be open to their candidates.

Watch a related report by Mil Arcega


The director of the Paris office of the European Council on Foreign Relations, Thomas Klau, says a critical test will be whether other G8 members, notably the United States, rally behind Lagarde in Deauville.

"It would be very interesting of course if the Americans ... if Barack Obama or members of his entourage ... signaled that they were happy with a European and indeed a Lagarde candidacy. That would more or less clinch the deal for her," Klau said.

The wave of popular uprisings in the Arab world is another hot topic.  The prime ministers of Tunisia and Egypt are expected at the G8 to lobby for massive investment and aid.  Washington has already promised billions of dollars in assistance to both countries.

Leaders are also likely to discuss Libya, where NATO is waging a military campaign against the Gadhafi regime.

"There's been considerable concern in Paris and other capitals about the military development in Libya and about the risk of a lasting stalemate and indeed a possible de-facto partition of the country.  And inevitably this is something the leaders are going to discuss," Klau said.

The G8 has its share of critics.  Leading up to the summit, thousands of anti-globalization activists protested in the northern French city of Le Havre.

Non-government groups like Oxfam claim G8 leaders have failed to meet aid promises to the poorest nations made during a 2005 summit in Gleneagles, Scotland.

Oxfam Deputy Director for Advocacy Emma Seery says G8 leaders must not forget these commitments when they meet with counterparts from several sub-Saharan African nations in Deauville.

"We think it is really important that the G8 does not put aside Africa when they are talking about the Middle East," said Seery. "That is not to say the Middle East should not be on the agenda.  It is a crucial issue facing the world right now and it is great and it is right that the G8 take that seriously."

The G8 is being hosted by France, which heads the group this year, along with the G20.  The summit will give French President Nicolas Sarkozy a chance to burnish his image as international statesman a year before presidential elections.  But some analysts say French voters are more concerned about jobs and the economy at home than Mr. Sarkozy's reputation abroad.

You May Like

Somalia: No Popular Elections in 2016

In interview Wednesday with VOA, President Mohamud says 'one person, one vote' elections will not be possible due to continuing insecurity More

Scientists Predict Climate Change Will Increase Child Malnutrition

Public health expert in Germany says that by 2050, 25 million more children's lives will be put at risk because of lack of nutrients tied to climate change More

Erdogan in China Amid Tensions on Uighurs, Missile System

Turkey's president has criticized China's heavy-handed policies toward Uighurs in violence-plagued Xinjiang region, where China says it is fighting foreign-backed separatists 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.
Russia Accused of Abusing Interpol to Pursue Opponentsi
X
Henry Ridgwell
July 28, 2015 9:53 PM
A British pro-democracy group has accused Russia of abusing the global law enforcement agency Interpol by requesting the arrest and extradition of political opponents. A new report by the group notes such requests can mean the accused are unable to travel and are often unable to open bank accounts. VOA's Henry Ridgwell reports.
Video

Video Russia Accused of Abusing Interpol to Pursue Opponents

A British pro-democracy group has accused Russia of abusing the global law enforcement agency Interpol by requesting the arrest and extradition of political opponents. A new report by the group notes such requests can mean the accused are unable to travel and are often unable to open bank accounts. VOA's Henry Ridgwell reports.
Video

Video Genome Initiative Urgently Moves to Freeze DNA Before Species Go Extinct

Earth is in the midst of its sixth mass extinction. The last such event was caused by an asteroid 66 million years ago. It killed off the dinosaurs and practically everything else. So scientists are in a race against time to classify the estimated 11 million species alive today. So far only 2 million are described by science, and researchers are worried many will disappear before they even have a name. VOA’s Rosanne Skirble reports.
Video

Video Scientists: One-Dose Malaria Cure is Possible

Scientists have long been trying to develop an effective protection and cure for malaria - one of the deadliest diseases that affects people in tropical areas, especially children. As the World Health Organization announces plans to begin clinical trials of a promising new vaccine, scientists in South Africa report that they too are at an important threshold. George Putic reports, they are testing a compound that could be a single-dose cure for malaria.
Video

Video Special Olympics Athletes Meet International Friends

The Special Olympics are underway in Los Angeles, California, with athletes from 165 countries participating in an event that gives people with intellectual disabilities the chance to take part in an international competition. VOA's Mike O'Sullivan reports that for athletes and their families, it's also an opportunity to make new friends in an international setting.
Video

Video 'New York' Magazine Features 35 Cosby Accusers

The latest issue of 'New York' magazine features 35 women who say they were drugged and raped by film and television celebrity Bill Cosby. The women are aged from 44 to 80 and come from different walks of life and races. The magazine interviewed each of them separately, but Zlatica Hoke reports their stories are similar.
Video

Video US Calls Fight Against Human Trafficking a Must Win

The United States is promising not to give up its fight against what Secretary of State John Kerry calls the “scourge” of modern slavery. Officials released the country’s annual human trafficking report Monday – a report that’s being met with some criticism. VOA’s National Security correspondent Jeff Seldin has more from the State Department.
Video

Video Iran Nuclear Pact Wins Few New US Congressional Backers

Later this week, President Barack Obama returns from a trip to Africa to confront a U.S. Congress roiled by the nuclear accord with Iran, an agreement that has received the blessing of the U.N. Security Council. Days of intensive lobbying and testimony by top administration officials have won few new congressional supporters of the pact. VOA’s Michael Bowman reports.
Video

Video Washington DC Underground Streetcar Station to Become Arts Venue

Abandoned more than 50 years ago, the underground streetcar station in Washington D.C.’s historic DuPont Circle district is about to be reborn. The plan calls for turning the spacious underground platforms - once meant to be a transportation hub, - into a unique space for art exhibitions, presentations, concerts and even a film set. Roman Mamonov has more from beneath the streets of the U.S. capital. Joy Wagner narrates his report.
Video

Video Europe’s Twin Crises Collide in Greece as Migrant Numbers Soar

Greece has replaced Italy as the main gateway for migrants into Europe, with more than 100,000 arrivals in the first six months of 2015. Many want to move further into Europe and escape Greece’s economic crisis, but they face widespread dangers on the journey overland through the Balkans. VOA's Henry Ridgwell reports.
Video

Video Stink Intensifies as Lebanon’s Trash Crisis Continues

After the closure of a major rubbish dump a week ago, the streets of Beirut are filling up with trash. Having failed to draw up a plan B, politicians are struggling to deal with the problem. John Owens has more for VOA from Beirut.
Video

Video Paris Rolls Out Blueprint to Fight Climate Change

A U.N. climate conference in December aims to produce an ambitious agreement to fight heat-trapping greenhouse gases. But many local governments are not waiting, and have drafted their own climate action plans. That’s the case with Paris — which is getting special attention, since it’s hosting the climate summit. Lisa Bryant takes a look for VOA at the transformation of the French capital into an eco-city.
Video

Video Racially Diverse Spider-Man Takes Center Stage

Whether it’s in a comic book or on the big screen, fans have always known the man behind the Spider-Man mask as Peter Parker. But that is changing, at least in the comic book world. Marvel Comics announced that a character called Miles Morales will replace Peter Parker as Spider-Man in a new comic book series. He is half Latino, half African American, and he is quite popular among comic book fans. Correspondent Elizabeth Lee reports from Los Angeles.
Video

Video Critics of Japan Defense Policy Focus on Okinawa

In Okinawa, many locals have long complained that Tokyo places an unfair burden on the tiny island by locating most of Japan's U.S. military bases there. As Japan's government moves toward strengthening and expanding the country's defense policies, opponents of those plans are joining local protesters in Okinawa, voicing concern about where the country is headed. VOA’s Brian Padden reports from Okinawa.
Video

Video IS Uses Chemical Weapons in Syrian Attack

Islamic State militants have added a new weapon in their arsenal of fear: chemical weapons. VOA Kurdish service reporter Zana Omer was on the scene within hours of a recent attack in Hasakah, Syria, and has details of the subsequent investigation, in this report narrated by Miguel Amaya.
Video

Video Historic Symbol Is Theme of Vibrant New Show

A new exhibit in Washington is paying tribute to the American flag with a wide and eclectic selection of artwork that uses the historic symbol as its central theme. VOA’s Julie Taboh was at the DC Chamber of Commerce for the show’s opening.

VOA Blogs

World Currencies

EUR
USD
0.9043
JPY
USD
123.19
GBP
USD
0.6445
CAD
USD
1.3030
INR
USD
64.170

Rates may not be current.