G8 summit in Camp David (U.S.) on 18-19 May 2012
The measures for growth, combined with structural reforms, investment and fiscal consolidation were welcomed by G8 leaders.
Updated 21 May
After Saturday's G8 working session on the global economy Presidents Barroso and Van Rompuy said in a joint statement: "We were comforted to hear that all leaders agree on the need to take action to boost confidence and nurture recovery in response to the current economic challenges we face. We had a candid and open discussion with the other G8 members on the situation in the Euro area. On-going EU discussions and measures taken to generate growth, combined with structural reforms, targeted investment and fiscal consolidation were welcomed by the non-European G8 leaders. On Greece, it is important that, together with our G8 partners we reaffirmed our strong wish to see Greece stay in in the Euro zone, while respecting the commitments that were made."
Important outcomes from other priority areas of discussions:
- "New Alliance for Food Security and Nutrition", launched on the eve of the G8 Summit, which gathers together donors, partner countries and the private sector in a joint effort to lift 50 million people out of poverty in the next ten years.
- Renewing the commitment to the Deauville Partnership with Arab Countries.
- Agreement to join the Climate and Clean Air Coalition to Reduce Short-lived Climate Pollutants and strong support towards the adoption of a climate action instrument legally binding for all parties by 2015.
Read more in the complete Camp David Declaration.
The next G8 meeting will take place in 2013 under presidency of the United Kingdom.
"Greece is part of our family. But the ultimate resolve to stay in the euro area must come from Greece itself"
After concluding the debate on the economic situation in Europe in the College of Commissioners, President José Manuel Barroso made some remarks on Greece. He said the Commission has been working tirelessly to assist Greece and will continue to do so. "This being said, the ultimate resolve to stay in the euro area must come from Greece itself," he added. The President stressed that "we are fully aware that the present situation is asking a lot of the Greek people, with many sacrifices." But he pointed out that this is a result of the legacy of past policies. The economic adjustment programme for Greece, he stressed, is "the least difficult of all the difficult alternatives".
Talking about the need to revive economic activity in the European Union as a whole following the Schuman Day declaration of the College last week, President Barroso announced that the Commission will prepare a growth initiative for the June European Council, building on proposals already on the table and consistent with the strategy for economic development based on financial stability, structural reform and targeted investments.
This is also the clear message President Barroso is taking to the G8 summit this weekend (18-19 May) in the USA where he headed immediately after delivering his statement. Besides the economic situation, G8 leaders will discuss global challenges such as food security, the fight against poverty, climate action and energy security. The debate will also cover international issues, such as Afghanistan and the 'Arab Spring'. "The EU is taking decisive action to foster sustainable development, increase agricultural resilience and reduce poverty, promoting democratic values and the rule of law and enhancing international stability. The EU is ready to rise to global challenges with responsibility and solidarity, in the G8 and beyond," said the President.
Before attending the G8 summit, on 17 May, the President will speak at the High-Level Debate of the United Nations General Assembly in New York on 'The state of the world economy'. He will meet bilaterally with United Nations Secretary General Ban Ki-Moon and participate in a meeting of the Forum of Small States (FOSS), to which more than half of UN Member States belong. After the G8, President Barroso and President Van Rompuy will travel to the NATO summit in Chicago to attend the meeting of the North Atlantic Council, the principal political decision-making body within NATO, on 20 May. The next day, President Barroso will represent the EU on NATO's International Security Assistance Force (ISAF) meeting on Afghanistan.
Read the Schuman Day declaration [37 KB]