G-8 proposed dose of economic stimulus for the eurozone

For the Group of 8 more developed countries of the world, the g, Europe needs to grow and create jobs, not just with austerity and fiscal balance, but also with a dose of economic stimulus.

On Saturday the G8, ended their summit meeting at Camp David, Maryland, with a statement which expresses its support for Greece and the interest that the country remains part of the European single currency.

However, with regard to the strategy for attaining the eurozone to stop skirting the abyss of recession, which as Group managed to barely avoid this quarter, leaders appear not to coincide fully, according to the analysis you can do own final communiqué of the group.

They recognize in principle that not all countries need the same recipes to overcome the harsh crisis in the eurozone.

Some analysts estimate that the text gives indications that Washington is not satisfied with strict plans austerity promoted by the Government of Germany and I would prefer a policy of encouragement similar to that implemented the President Barack Obama to reach power in 2009.

Own opening the text, sentence, "our challenge is to promote growth and jobs", is seen by many as a rhetorical triumph of Obama and the French François Hollande on Germany Angela Merkel Chancellor.

Obama and others, as the British Prime Minister, David Cameron, fear that the deepening of the problems in the eurozone transmit infected the rest of the world and affect the recovery, which in the U.S. Although sustained case remains weak.

"Sound finances and growth go together and should not be compared"

Angela Merkel, Chancellor of Germany

From there that, after several months with the fiscal balance as Northern Europeans now seem more willing to incur some costs to reactivate the productive apparatus.

Critics of the policy of restraint her blame the profound crisis in Greece and the worsening of the situation in Italy and Spain.

At the end of the meeting, Merkel said that "sound finances and growth go together and should not be compared", in an attempt to silence the opinions about a supposed Division within the G-8.

But that the German President, who until last week had former French President Nicolas Sarkozy to move forward the austerity plans, now seems to be willing to try other routes is seen by some as a major change.

"The final communiqué has the solemn Cadence of a prayer." "I can't imagine the heads of State and Government praying in unison with their faces looking towards the sky", says the editor for North America of the BBC, Mark Mardell, "but not all are you praying to the same God"

Mardell ensures that the language of the final communiqué of the Summit leaves an important warning where it says "Recognizing that adequate measures are not the same for one of us".

Usually, the G-8 releases be timid and without specific references to countries. They are rather declarations of global intent lately reflecting the loss of influence of the group in favour of its enlarged version: the G-20.

So that in the text of the agreement name to Greece is seen as an indication that there is a real concern about the Mediterranean country facing a political crisis that runs parallel to the economic.

However, Mardell says it's "a lukewarm statement".

"They would prefer Greece to follow in the euro but are not saying that the alternative is disastrous or they would move heaven and Earth to prevent the country from falling." There is also a phrase crushing at the end of the sentence: "while respecting their commitments".

Greece is not alone is the message of the G8 financial markets

Greek commitments are, precisely, to keep the plan of cuts and balanced budget negotiated with the International Monetary Fund and the European Central Bank, who promoted Germany and the France of Sarkozy, in exchange for aid funds thereby avoiding having to suspend payment of its debt.

Compliance with these agreements is in question, then in the recent general election, parties opposed to the plan succeed in increasing his vote against the traditional political class.

The arrival of Hollande to Elysium meant a weakening of axis Paris/Berlin and Merkel and Sarkozy cuts strategy.

However, the stimulation of the economy would not have why abultar fiscal accounts.

While the leaders chatted at the holiday home of the American Presidency, the largest trade union group of German industry, IG Metall, negotiated the largest salary increase in 20 years, achieving an increase of 4.3%, the German inflation twice.

Agreements of this kind would mean more money in the hands of consumers and you will help increase the demand for goods and services, creating a beneficial for Europe and Germany circle.

Clear that not all the 17 countries that are members of the single currency area, nor many of their companies, are able to follow the German example.

But that the Germans increased their demand will end positively impacting the rest of the eurozone, which already owes to Berlin have avoided that, as sets, the area fell officially in recession this quarter.

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