The summit of the G8 group of major world economies is under way at Camp David, near Washington, with Europe’s debt crisis expected to dominate.
US President Barack Obama said all the G8 nations were “absolutely committed” to the goals of growth, stability and fiscal consolidation.
Germany, which backs austerity, is under pressure from the US and France for stimulus measures, analysts say.
Greece’s possible exit from the eurozone is high on the agenda.
I think President Obama’s comments and concerns can be roughly translated: “Let’s forget about austerity and living within our means, at least for now. We gotta continue to spend our way outta this mess. . .”
Same story, different day.