President Obama and the world leaders who joined him for this weekend’s G-8 meeting declared on Saturday that governments shouldn’t only look at austerity measures to improve their countries’ economies, but also look at measures to spark growth, the Associated Press reports. Obama hailed the statement as an 'emerging consensus" on how to address the European debt crisis, which “threatens to drag down the U.S. recovery and his own political future.”
The statement, however, didn’t include any bold remedies to address the crisis. With all of the leaders facing their own domestic political issues, the leaders instead “seemed intent on trying to inspire confidence by agreeing on a broad strategy no matter their differences.”
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