While welcoming G8 leaders at Camp Davis on Friday, President Obama has hoped that the world leaders would find a solution to eurozone crisis that would be a pragmatic mix of “fiscal consolidation” and “strong growth agenda”. He also stressed upon the importance of Europe and its strong hold on American economy and the need to put Europe back on the growth path. With Europe already bracing for possible Greek exit, Obama’s take on “growth” is expected to divide the house into two and set the ball rolling for more heated debates.
It seems that French President Francois Hollande’s pro-growth policies have found an echo in his American counterpart, Barack Obama. In aligning with growth, Obama is believed to have distanced himself from Angela Merkel-backed austerity program.
Obama’s view reflects the growing fear of eurozone financial crisis and its cascading effects on other parts of the world. This has the potential to hurt the slowly recovering US economy also Obama’s re-election chance. It is believed that the four day Camp David summit would be the ultimate testing ground for international diplomats not only to iron out their differences, but also to find a viable solution to euro zone crisis that has threatened to plague the entire financial world.
It seems that French President Francois Hollande’s pro-growth policies have found an echo in his American counterpart, Barack Obama. In aligning with growth, Obama is believed to have distanced himself from Angela Merkel-backed austerity program.
Obama’s view reflects the growing fear of eurozone financial crisis and its cascading effects on other parts of the world. This has the potential to hurt the slowly recovering US economy also Obama’s re-election chance. It is believed that the four day Camp David summit would be the ultimate testing ground for international diplomats not only to iron out their differences, but also to find a viable solution to euro zone crisis that has threatened to plague the entire financial world.
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