The European crisis and the tug of war between growth and rigour, i.e. between Monsieur Hollande and Frau Merkel. This is the central theme of the G8 scheduled between today and tomorrow at Camp Davidat the residence of the President of the United States. Other chapters no less important for the international balance will act as a corollary: from Afghanistan to the Arab spring, from sustainable development to poverty reduction.
However, the Greece dossier, the austerity measures already decided and the investments for growth still to be decided will hold the court. Obama intends to ask Europe for further efforts to restart the GDP machine and on this ground the most available interlocutors are the Italian premier, Mario Monti, and above all the newly elected French president, François Hollande. After the heavy defeat in the last administrationsInstead, Angela Merkel's position is becoming increasingly difficult to manage. Politically weakened on the home front, the chancellor is now isolated on the international one.
In addition to the host, Barack Obama, Professor Monti and the Franco-German diarchy, the leaders of Great Britain, Canada, Japan and Russia will sit around the table. As per tradition, the president of the European Council, Herman Van Rompuy, the number one of the EU Commission, Jose Manuel Barroso, and some African leaders are also invited.
Our Prime Minister will open the dance, who was directly invited by Obama to give the opening speech on "Economics and Global Issues". At the end of the meeting, the heads of state and government will leave for Chicago, where a NATO summit is scheduled for Sunday and Monday.
Yesterday the US Treasury Secretary, Timothy Geithner, underlined how "Europe is still trapped in a very tough debt crisis" and reiterated Washington's concern about the possible repercussions on the US.
