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Last Updated : May 20, 2012 01:32 PM IST | Source: Reuters

G8 leaders back Greece in euro zone, call growth

G8 leaders said Saturday it is their "imperative" to promote growth and jobs to reinvigorate the global economy, and gave their backing to Greece remaining in the euro zone.


G8 leaders said Saturday it is their "imperative" to promote growth and jobs to reinvigorate the global economy, and gave their backing to Greece remaining in the euro zone.


"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 in a statement after meeting at this presidential retreat.


G8 leaders also committed to "take all necessary steps to strengthen and reinvigorate our economies and combat financial stresses" amid growing concerns over the health of Europe's banks.


And they emphasized the need for ailing euro zone economies to stick to fiscal responsibility, even as European citizens are showing increasing impatience with austerity measures championed most strongly by Germany.


"We commit to fiscal responsibility and, in this context, we support sound and sustainable fiscal consolidation policies that take into account countries' evolving economic conditions and underpin confidence and economic recovery," they said.

G8 member countries are the United States, United Kingdom, France, Italy, Germany, Canada, Japan and Russia.

First Published on May 20, 2012 07:46 am
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