Millennium Post

G8 chiefs agree on fiscal responsibility

Seeking a 'strong and cohesive' eurozone, that includes debt-ridden Greece, leaders of the powerful G8 countries have agreed to put their fiscal houses in order and accord priority to growth and jobs by revitalising the global economy.

The leaders of the G8 group of the world's most powerful economies on Sunday said they want debt-stricken Greece to remain in the eurozone and vowed to promote economic growth to reinvigorate their economies in the face of the European debt crisis.

'We agree on the importance of a strong and cohesive eurozone for global stability and recovery, and we affirm our interest in Greece remaining in the eurozone while respecting its commitments,' the leaders said.

At the end of their two-day summit here, the leaders of the G8 - the exclusive group of top eight economic nations made up of the US, Japan, Britain, Germany, France, Italy, Canada and Russia - agreed that growth and jobs must be their 'top priority.'  

'There's now an emerging consensus that more must be done to promote growth and job creation right now in the context of these fiscal and structural reforms. That consensus for progress was strengthened here at Camp David,' US President Barack Obama said.

'Today we agreed that we must take steps to boost confidence and to promote growth and demand while getting our fiscal houses in order,' said Obama.
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