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| Lunch ... G8 leaders get to work on full stomachs |
DAVID Cameron sat down with the most powerful leaders in the world as they
identified the two main threats to the global economy.
He signalled that he was ready to take action to tackle the Eurozone crisis
and soaring oil prices.
Speaking after holding bilateral talks with President Barack Obama ahead of
the main G8 meeting at Camp David, the Prime Minister said action was needed
to protect world economies.
He said: “We are addressing here the two biggest threats to all our economies
and that is, of course, the eurozone crisis but also the very high oil
prices that translate into high prices at the pumps.
“We are making progress on both.”
Mr Cameron said the summit - which brings together the leaders of Britain, the
United States, Germany, France, Italy, Japan, Canada and Russia - was an
opportunity for the non-eurozone nations to press the currency bloc to
resolve its problems.
He said: “Particularly on the eurozone, what is required is a sense of urgency
and then clear actions for strong banks, strong deficit reduction plans,
strong governance and strong contingency plans for whatever might happen.”
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| Handling crisis ... David Cameron and Barack Obama |
“The G8 can’t instruct the eurozone what to do but why meetings like this
matter is that eurozone countries can hear from countries outside the
Eurozone whose economies are affected.
Mr Cameron refused to be drawn into criticising German Chancellor Angela
Merkel for blocking a rescue package for the eurozone.
However, he indicated that he would like to see the European Central Bank do
more to stimulate demand.
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