Obama welcomes G8 leaders
Obama welcomes G8 leaders
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Saturday, 19, May 2012 12:20
By James McCann
US president Barack Obama has welcomed world leaders to the G8 summit in Camp David, near Washington, where the issue of the eurozone crisis is set to dominate talks among those in attendance.
President Obama is playing host to the leaders of Germany, France, Britain, Japan, Russia, Italy and Canada, including the newly elected French president Francois Hollande, who has already disagreed with British prime minister David Cameron about how eurozone problems could be settled.
While Mr Hollande thinks that raising taxation on people and businesses would help to calm the situation, Mr Cameron feels it would have the opposite effect.
Another subject of conversation is how to ensure Greece remains a part of the euro, as analysts have predicted that if the debt-ridden country leaves the single currency, it could cause terminal damage.
Mr Cameron explained: "We need decisive action from eurozone countries in terms of strengthening eurozone banks, in terms of a strong eurozone firewall and decisive action over Greece. That has to be done."
Following the conclusion of the G8 summit, the eight leaders will relocate to Chicago, where they will join a larger group of international representatives for the Nato summit, with Afghanistan set to be the main subject of discussion.