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G-8 Summit in Italy: Better Tines Ahead?

Published on: July 4th 2009 14:59:26
Following his meetings in Moscow, President Obama will head to the G-8 Summit in L’Aquila, Italy on July 8th-10th.  The focus there will be the global recession with particular emphasis on the state of the U.S. economy. Obama’s address will be generally upbeat, though cautious in tone as the Administration sees no early end to the problems. Although conscious of the fact that his address to the summit may fall into the category of “do as I say and not as I do”, the President will re-emphasize his themes of the need for fiscal responsibility, strong monetary policies at the central bank level, open markets, low tariffs, and the need to guard against all forms of protectionism. The Administration, however, is under no illusion about the difficulties attendant to obtaining close cooperation from its G-8 partners. The summit follows the G-8 Foreign Ministers Meeting that took place June 25th-27th, concentrating on the Afghanistan, Iran, and North Korea issues, the piracy phenomenon, and the Middle East peace process, and precedes the G-20 Summit, expected to take place September 24th and 25th in Pittsburgh.

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