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THE G8 LEADERS have expressed their support for Greece to stay in the eurozone during their summit hosted by US President Barack Obama at Camp David in Maryland.
In a joint statement, the leaders said they agree “on the importance of a strong and cohesive eurozone for global stability and recovery”.
“We affirm our interest in Greece remaining in the eurozone while respecting its commitments,” the statement continued.
In his blog this evening, the BBC’s North America editor Mark Mardell described the statement as “distinctly grumpy” and a very lukewarm gesture of support for Greece.
Regarding ongoing difficulties in the eurozone, the leaders said they welcome ongoing discussion on generating growth “while maintaining a firm commitment to implement fiscal consolidation to be assessed on a structural basis”.
They also issued a note on protecting intellectual property rights:
Given the importance of intellectual property rights (IPR) to stimulating job and economic growth, we affirm the significance of high standards for IPR protection and enforcement, including through international legal instruments and mutual assistance agreements, as well as through government procurement processes, private-sector voluntary codes of best practices, and enhanced customs cooperation, while promoting the free flow of information.
The leaders also said that the global economy is showing signs of recovery, but warned that “significant headwinds persist”.
In a press briefing today, Obama said that the leaders had discussed “core issues that affect our common security” and are unified on their approach to Iran.
“I think all of us are agreed that Iran has a right to peaceful nuclear power,” he said, “but that it’s continuing violations of international rules and norms and its inability thus far to convince the world community that it’s not pursuing the weaponisation of nuclear power is something of grave concern to all of us.”
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Well, that’s a sure sign Greece will be out of the euro by years end.
Hard to know. Scaring the sh1t out of the greek people with an election a few weeks away would certainly follow their MO of thinly veiled threats against uppity countries who are getting to vote, lest democracy breaks out and the people get to make a decision without having a gun to their head.
Its happening to us as well right now.
I better stock up on my feta cheese,judging by those comments!!
ya have to love it, greece is sliding the rest of the way down the shitter, spain and italy aren’t far behind, we’re just about managing to thread water by flapping our ears while we have both hands tied behind our backs at great toll to our society, nation, population and sovereignty and the Euro could be about to collapse but they want to make sure you can’t buy knock off Prada or get for free extortionately priced software to use as a hobbyist, or download some crappy film that ought to have made ppl enough money in the cinema anyway! It’s all about priorities! They have theirs that’s for sure!
Ms Merkel and her austerity message ought to be heeded, she is excellence personified. leaders should be judged by their past achievements current intellect & future possible aspirations. Ms Merkel is a leader who leads by example. most other leaders do not lead by example, and as a leader it really ought to be mandatory. Germany is an amazing country, they aren’t a successful world super power by accident.
Hitler was Time magazines person of the year in 1938.
1944, not so much.
Maybe you should read the actual Time article before making comments like that.
Ms Merkel does not have OUR interests at heart. It doesn’t matter how sound her plans are if they involve maintaining Germany’s advantage at the expense of the rest of us.
got to love the nutters who drag out the Nazi references.
Finlands been doing quite well (although they are well pissed about having to bail out the likes of Ireland). I wonder why this vast German conspiracy has targeted Ireland but not Finland?
I agree Neil, the irony is that it was a fianna fail decision to attach our sovereign debt to bank debt, a decision the Germans and french were actually a bit annoyed with.
Yeah right, you think the Germans wanted Ireland to let the banks fail??
I don’t think so. I agree though, our inept politicians got Ireland into the mess it’s in. The bank guarantee was the final straw for me.
Intellectual property rights? Here we go again. Leave my Pirate Bay and cheap generic drugs alone.
How did Greece even get into the EU??
Solomon Brothers
Lying about (manipulating) their accounts
Thats what I thought and to reward that, theyre getting a better rate than we are are we are getting threatened while we are hearing that no one is gonna let Greece leave the EU or go under but that we are f*cked!??
Yep- thats Enda and Co. for you
Would you seriously prefer to be in Greece’s position right now??
Not at all! Just wondering why we arent being treated the same.
Why are we getting threats and told that we’ll all die if we vote no yet the Greeks are being told that the EU wont let them sink.
Check out this article from Der Spiegel, it claims that although the Greeks ( and Italians) were cooking the books the Germans knew and pushed ahead with the Euro regardless.
http://m.spiegel.de/international/europe/a-831842.html#spRedirectedFrom=www
With the help of one of our many experts!
That’s right Caroline. The EU were well aware that Greece had cooked the books. They even rewarded the “head chef” Papademos by letting him be unelected leader of Greece while they delayed elections.
I suppose it suited the IMF to have a guy like that in charge while they asset stripped Greece, leaving the Greek citizens queuing at soup kitchens or medicine sans frontières or placing their children in orphanages because they couldn’t afford to feed them.
It really made me feel sick to have heard Michael Sociopath Noonan crack his feta cheese joke during the week. Reminded me of Enda in Davos. Fine Gael couldn’t give 2 hoots about the ordinary citizen. They’ll do whatever they have to to protect big business and their big wage. For goodness sake Vote NO on 31st May.
Ciara,
Greece got in to the Euro with the help of a small group of American accountants who did their accounts for them. Goldman Sachs is their name, you might have heard of them. The euro should never have happened but it gave Germany a weaker currency than the DM and gave them a much bigger market for their wares. Part of the Maastricht treaty rules was the 60% GDP one that has been brought up in the current treaty, None of the Euro currency founding members had hit this fiscal target in 1999. The Euro was a failure before it started and time has proven that. All that it has achieved is the asset stripping of several nations to make a few wealthy people even more wealthy and powerful. I’m not against the European union, I am of the opinion that the Euro was a big failure and should be disbanded immediately. Go to http://www.zerohedge.com , http://www.golemxiv.co.uk , http://www.hat4uk.Wordpress.com and you will find articles that will enlighten you.
Isn’t the next big push to commericalise (remove poverty) from Africa, I guess everyone has to be 100% behind the IP game.
I thought economies flow from innovation based transaction on high education and cumulative knowledge. If patents can profit from 20 year terms why does copyrighting need 75 years plus the life of the author. Reduce it to the life of the author or 20 years and have student access systems like in Australia and the rate of innovation and transactions would shoot through the roof.
Imagine the works of EMI from the 1980′s being available on soundcloud rights free. Then some bedroom artist samples the works becomes number one and EMI can contract her for 10 years. Cycles and cycles get the juices (financial/innovation) flowing.
Just back from Asia. The reality is Europe is a mess because we have an ageing population, high cost workforce, and now a bank crisis that ultimately came from pension fund managers attempting to build sufficient funds by exploiting local building bubbles.
All we have vs Asia is a good infrastructure (Internet, road, rail, electricity, education) and integration. European countries cannot individually compete (except strangely ourselves) the integration program needs to work.
Short term austerity is not working. Medium Austerity (15 years) & growth will be combined. Which means low interest rates to fuel economical activity, low paye, house tax to keep house prices low, student loans, high vat (which will drive china to lower prices for manufactured goods), no minimum wage, lower social benefits and a ton more of more privatisation, and most radical a relaxed immigration policy.
Old white Europe needs an influx of working Africans and Asians working & contributing tax to fund our health care & living costs. Europe over next 20 years will change it’s demographic like it has been doing for over 10 thousand years.
Meanwhile america’s tea party will …. See America live on Chinese credit.
Lower social benefits and more immigration from Africa? No political part will ever get elected on that platform.
I couldnt agree less
None of the current crop of political parties should ever get elected again.
Subtext: do nothing to interfere with Obama’s reelection.
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