Political Buzz May 19, 2012: The G8 Summit at Camp David Roundup — President Barack Obama & G8 Leaders Promise to Tame the Eurozone Economic Crisis Through Growth & Fiscal Responsibility

POLITICAL BUZZ

OBAMA PRESIDENCY & THE 112TH CONGRESS:

World Leaders Urge Growth, Not Austerity

Source: NYT, 5-19-12

Meeting at Camp David, leaders of the world’s richest countries banded together to press Germany to back more pro-growth policies to halt the deepening debt crisis in Europe.

G8 leaders tout economic growth, fiscal responsibility

Source: CNN, 5-19-12

The 10 members of the G8 Summit pose for a group portait at Camp David, Maryland. Left to right: European Commission President Jose Manuel Barroso, Russian Prime Minister Dmitry Medvedev, Japanese PM Yoshihiko Noda, Canadian PM Stephen Harper, French President Francois Hollande, U.S. President Barack Obama, German Chancellor Angela Merkel, British PM David Cameron, Italian PM Mario Monti and European Council President Herman Van Rompuy.

The 10 members of the G8 Summit pose for a group portait at Camp David, Maryland. Left to right: European Commission President Jose Manuel Barroso, Russian Prime Minister Dmitry Medvedev, Japanese PM Yoshihiko Noda, Canadian PM Stephen Harper, French President Francois Hollande, U.S. President Barack Obama, German Chancellor Angela Merkel, British PM David Cameron, Italian PM Mario Monti and European Council President Herman Van Rompuy.

President Barack Obama and fellow leaders at the Group of Eight meeting he hosted Saturday put job creation and economic growth at the top of their to-do list.

“(They) must be our top priority. A stable growing European economy is in everybody’s best interest, including the United States’,” Obama told reporters after the two-day Camp David retreat in Maryland concluded.

At the same time, leaders stated “that the right measures are not the same for each of us.”

The G8 meeting was one of two high-stakes, back-to-back weekend summits scheduled over the weekend. On Sunday, NATO kicks off its two-day summit in Chicago, with a focus on the Afghanistan war….READ MORE

Obama sees ‘emerging consensus’ on economic fix

Source: AP, 5-19-12

Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.

“There’s now an emerging consensus that more must be done to promote growth and job creation right now,” Obama proclaimed after hosting unprecedented economic talks at Camp David, his secluded and highly secure mountaintop retreat. Seeking a second term amid hard economic times, Obama hailed a debate heading in the direction he likes, with nations now talking of ways to spark their economies instead of just slashing spending….READ MORE

Wrapping Up the G8 Summit at Camp David

Source: WH, 5-19-12
G8 Summit in Camp David, 2012 Logo

This weekend, the leaders of Britain, Canada, France, Germany, Italy, Japan, and Russia joined President Obama at Camp David for the annual G8 Summit. The leaders met to address major global economic, political, and security challenges, including energy and climate change, food security and nutrition, Afghanistan’s economic transition and transitions taking place across the Middle East and North Africa.

Energy and Climate Change:

At the Camp David Summit, G-8 Leaders recognized that the development of and universal access to environmentally safe, sustainable, secure, and affordable sources of energy is essential to global economic growth and to their overall efforts to address climate change.

Food Security:

President Obama and G8 leaders announced a new alliance on food security with African leaders and the private sector as part of an effort to lift 50 million people out of poverty over the next decade.

Transitions in the Middle East and North Africa:

A year after the historic events across the Middle East and North Africa began to unfold, the aspirations of people of the region for freedom, human rights, democracy, job opportunities, empowerment and dignity are undiminished. At the Camp David Summit, G-8 Leaders recognized the important progress that has been achieved in a number of countries undergoing transition and committed to maintaining their support for these transitions in four key priority areas: stabilization, job creation, participation/governance, and integration.

More from the G8:

Press Briefing by Press Secretary Jay Carney; Mike Froman, Deputy National Security Advisor for International Economics; and Deputy National Security Advisor for Strategic Communications Ben Rhodes

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