G8 Leaders Meet to Tackle Euro Zone Crisis
Leaders of the major industrial countries will convene this weekend to try to find a solution to the Euro crisis as fears are growing that Greece might bolt out of the euro zone, which threatens the future of the common currency. President Barack Obama will host the meeting. He urged the European leaders to stimulate economic growth as he fears that the euro crisis can have an impact in the US economy. This would also hurt his re-election attempt in November.
British Prime Minister David Cameron has been vocal in his calls for Europe to find a solution to the debt crisis. He said that he will tell the leaders to work together to stop the region’s economic problem from spreading across the globe.
The talks over the weekend would not result into policy decisions but officials said that President Obama hopes that the G8 leaders discuss methods of resolving the issue. He would meet with France’s new leader at the White House on Friday before they head to Camp David for the meeting.
Francois Hollande was sworn as the new French president this week. Since then, he has challenged Europe’s austerity focus and said that he would remove French combat forces from Afghanistan by the end of the year.
President Obama will probably use his first meeting with the French president in the Oval Office to encourage the Socialist to rethink his plans on Afghanistan, which will place France on an earlier timetable than other NATO allies. The two leaders support pro-growth policies in Europe. They will have common goals on the euro zone crisis that is said to dominate the G8 talks this weekend. The Obama administration had to spend a lot in order to combat the 2007-2009 recession in the United States. Hollande would to generate more jobs by investing in infrastructures.