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G8 – World leaders back Greece, Growth and jobs top priority

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By MANIKRISHNAN ZURICH – Independent Forex Consultant

(May ,20)- CAMP DAVID, Maryland – G8 leading industrialized nations agreed to keep Greece in the euro zone. They promised to aid financially a global economy increasingly threatened by Europe’s debt crisis. The G8 agreed solidly to balance European austerity

Fears that a political stalemate in Greece would lead to its departure from Europe’s monetary union at unknown costs to the financial system and global economic stability have spooked markets.

The Germans agreed Solid finances and growth belong inseparably together and should not be put into contrast. The Euro-zone leaders agreed that the stakes were high and there could be “enormous” costs if they failed. Growth and jobs top priority,

To shore up shaky global growth, the G8 leaders agreed to monitor oil markets closely. Ready to seek an increase in supplies if needed. Crude oil prices have declined by 10% over the past month, the threat of tighter sanctions on Iran loom next month.