President Obama met with G-8 leaders at Camp David to discuss the financial crises that Europe finds itself in as well as a decisive plan of action by which the demand for goods would increase while also encouraging job growth.
Tom Donilon, the National Security Advisor, described the agenda of the G-8 meeting by saying, “The leaders, I think, will focus on specifics and specific concepts and ideas for growth and jobs. But I would also point out that the ultimate decisions on that would be decisions taken in the Eurozone.”
Apart from reaching a consensus on a plan of action to achieve this, the other topic that was discussed extensively was the fate of Greece as to whether it would remain with the Eurozone or not.
Yet Germany’s assistance might prove to be vital as it has made gestures to assist Greece provided it took clear measures to reduce its debt, and which was another major topic of discussion amongst the G-8 leaders.
While the Eurozone members will be meeting shortly in order to decide what their steps would be in a few weeks, Obama and the other G-8 leaders are aware of the repercussions that might occur if Greece did break away from the austerity measures laid down by the European Union.
With the American economy slowly picking up, an economic recession in Europe can change things for him as the date of the Presidential elections draw near, and will give Mitt Romney the impetus he needs to convince the American people that they need a new leader.