Friday September 19, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
G8 leaders hope Greece remains in eurozone

US President Barack Obama (right) and his French counterpart Francois Hollande.

By Anne Geran

President Barack Obama and other leaders of the Group of Eight industrial nations expressed hope Saturday that Greece will remain in the eurozone as they huddled for a shirt-sleeves summit aimed at keeping Europe's economic troubles from multiplying and spreading around the world.

Circling up around a table in a rustic cabin at the presidential retreat, the leaders underlined the need to keep bringing deficits down through austerity measures but also agreed that targeted spending on things like education and public works projects is needed to solve Europe's financial crisis.

"All of us are absolutely committed to making sure that growth and stability and fiscal consolidation are part of an overall package, Obama said.

Germany's Angela Merkel, for her part, said growth and deficit cutting reinforced each other and that we have to work on both threads, and the participants have made that clear, and I think that is great progress."

The G8 leaders' joint statement from the woods of Camp David reflected both hope and a recognition of the daunting economic challenges they face.

"The global recovery shows signs of promise, but significant headwinds persist, it said.

The summit brought together leaders of the United States, Germany, France, Canada, Italy, Britain, Russia, and Japan in an effort to figure out how to tame Europe's debt crisis while also increasing the demand for goods and spurring job growth.

Their statement conceded some points to Merkel's push for austerity, saying budget deficits needed to be closed. But it added that budget cutting should take into account countries' evolving economic conditions and underpin confidence and economic recovery. That suggested a willingness to let indebted countries take more time to reduce their deficits in line with eurozone rules in order to lessen the deadening impact of cuts on the economy.

"The right measures are not the same for each of us, their statement said.

Their statement of support for Greece remaining in the euro underlined the potential and unpredictable damage to the global financial system that could come from a Greece departure. It follows a week of increasing speculation that Greece might not be able to stay the course. [The Associated Press]

ekathimerini.com , Saturday May 19, 2012 (22:05)  
Minister calls on Tsipras to clarify position on public sector checks
SYRIZA demands ND reaction to new claims of Baltakos contact with Golden Dawn
Claims that high profile personalities escape punishment to be probed
Homeless man falls to death from shelter in central Athens
OPAP, Intralot bid for Greek horse race betting licence
Greece's privatization agency has received two binding bids for the country's horse race betting licence after scrapping a previous tender last month due to a lack of sufficient interest. Th...
Hardouvelis signals Greece may skip IMF loans to exit aid curbs
Finance minister Gikas Hardouvelis signaled Greece may forego International Monetary Fund emergency loans in 2015 and 2016 in order to secure an exit from the terms of its bailout. The IMF ...
Inside Business
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their countrys independence or whether they will remain citizens of the United Kingdom of Great Britain and Northern Ireland. What was alread...
EDITORIAL
Breathing room
Even Greeces biggest critics find it hard to deny that the debt-hit country has achieved an unprecedented fiscal turnaround within a very short period of time. Sure, progress in promoting t...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Minister calls on Tsipras to clarify position on public sector checks
2. SYRIZA demands ND reaction to new claims of Baltakos contact with Golden Dawn
3. Claims that high profile personalities escape punishment to be probed
4. OPAP, Intralot bid for Greek horse race betting licence
5. Hardouvelis signals Greece may skip IMF loans to exit aid curbs
6. NBG-owned Finansbank looks into possible secondary public offering
more news
Today
This Week
1. EIB signs deals with Greece for 815-mln investment in infrastructure projects
2. Dozens of arrests at march to mark anniversary of Fyssas murder
3. Samaras heads to Azerbaijan for two-day visit
4. ECB eyes banks capital quality as target for supervisory power
5. Syntagma metro station to close for Fyssas tribute concert
6. Homeless man falls to death from shelter in central Athens
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.