Group of Eight Meeting Discussion On Growth Versus Austerity

This article reports on the meeting of leaders from US, Germany, France, Italy, Russia, Japan, Canada, Britain and Canada at Camp David.  The major concern was to restore growth in Europe. There seemed to be a wide agreement that it was essential to focus on growth while dealing with longer term fiscal consolidation.  Angela Merkel understood the concerns but she has to deal with national politics at home that will not be easy.  She has also been concerned about creating moral hazard by easing up on austerity measures. There seemed to be agreement on doing what was necessary to keep Greece in the eurozone.