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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsG8 lean toward Obama growth, not Merkel austerity
CAMP DAVID, Md. Leaders of the worlds richest countries banded together on Saturday to press Germany to back more pro-growth policies to halt the deepening debt crisis in Europe, as President Obama for the first time gained widespread support for his argument that Europe, and the United States by extension, cannot afford Chancellor Angela Merkels one-size-fits-all approach emphasizing austerity.
Pointedly recognizing that the right measures are not the same for each of us, the leaders of the Group of 8 nations, at a meeting hosted by Mr. Obama at Camp David, committed to take all necessary steps to strengthen their economies. They said they wanted to keep Greece in the euro zone and vowed to work to promote growth in Europe, though they did not detail how they would do so.
Our imperative, the leaders said in their statement, is to promote growth and jobs.
It is by no means the final word in the growth-versus-austerity fight that has been under way for two years. Even with the future of the European currency union in doubt, Germany has insisted that Europes ailing economies tackle their financial problems through spending cuts, a policy that critics say has caused higher unemployment, brought Greece to the edge of bankruptcy and worsened the crises in Spain and Italy.
http://www.msnbc.msn.com/id/47489892/ns/world_news-the_new_york_times/#.T7g-M47tjf8
Scurrilous
(38,687 posts)malaise
(269,054 posts)ReTHUGs will spin this before Monday.
Austerity for the 99%; Riches for the 1% - tax cuts, tax cuts, tax cuts.
Brooklyn Dame
(169 posts)What else do people need to see to figure out that prosperity happens for nations when the wealth gap isn't horrifically wide like it is here and now.
http://borderlessnewsandviews.com/2012/04/stealing-from-the-hungry/
http://borderlessnewsandviews.com/2012/04/the-great-divide/