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

Koreas Mark 61st Anniversary of War Armistice

Muted observances on both sides of heavily-armed Demilitarized Zone that separates two decades-long enemies More

Judge Declares Washington DC Ban on Public Handguns Unconstitutional

Ruling overturns capital city's prohibition on carrying guns in pubic More

Pricey Hepatitis C Drug Draws Criticism

Activists are using the International AIDS Conference to criticize drug companies for charging high prices for life-saving therapies 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.
Students in Business for Themselvesi
X
Mike O'Sullivan
July 26, 2014 11:04 AM
They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.
Video

Video Not Even Monks Spared From Thailand’s Junta-Backed Morality Push

With Thailand’s military government firmly in control after May’s bloodless coup, authorities are carrying out plans they say are aimed at restoring discipline, morality and patriotism to all Thais. The measures include a crackdown on illegal gambling, education reforms to promote students’ moral development, and a new 24-hour phone hotline for citizens to report misbehaving monks. Steve Sandford reports from Bangkok.
Video

Video Virtual Program Teaches Farming Skills

In a fast-changing world beset by unpredictable climate conditions, farmers cannot afford to ignore new technology. Researchers in Australia are developing an online virtual world program to share information about climate change and more sustainable farming techniques for sugar cane growers. As VOA's Zlatica Hoke reports, the idea is to create a wider support network for farmers.
Video

Video Airline Expert: Missile will Show Signature on Debris

The debris field from Malaysia Airlines Flight 17 is spread over a 21-kilometer radius in eastern Ukraine. It is expected to take investigators months to sort through the airplane pieces to learn about the missile that brought down the jetliner and who fired it. VOAs Carolyn Presutti explains how this work will be done.
Video

Video Treatment for Childhood Epilepsy Heats up Medical Marijuana Debate

In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Airbus Adds Metal 3D Printed Parts to New Jets

By the end of this year, European aircraft manufacturing consortium Airbus plans to deliver the first of its new, extra-wide-body passenger jets, the A350-XWB. Among other technological innovations, the new plane will also incorporate metal parts made in a 3-D printer. VOA's George Putic has more.
Video

Video AIDS Conference Welcomes Exciting Developments in HIV Treatment, Prevention

Significant strides have been made in recent years toward the treatment and prevention of HIV, the virus that causes AIDS. This year, at the International AIDS Conference, the AIDS community welcomed progress on a new pill that may prevent transmission of the deadly virus. VOA’s Anita Powell reports from Melbourne, Australia.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.

AppleAndroid

World Currencies

EUR
USD
0.7305
JPY
USD
101.53
GBP
USD
0.5830
CAD
USD
1.0656
INR
USD
60.075

Rates may not be current.