Projected discussions and outcomes on the economy

Analytical Studies > Analysis on the Deauville Summit
G8 Summits > 2012 Camp David Summit

G8 Camp David Summit:
Projected Discussions and Outcomes
on Economic Issues

John Kirton and Julia Kulik, G8 Research Group
May 18, 2012
See also Schedule and Agenda

Below are key components of the discussions and probable outcomes of the first session of the Camp David Summit on Saturday, May 20, 2012.

G8 and Global Current Economic Prospects
- Discussions
  - current and prospective economic conditions in the world and in each G8 economy
- Outcomes
  - eurozone crisis of extraordinary importance to global economy
Eurozone/Eurocrisis
- Discussions
  - causes of the current European crisis
  - contagion prospects and possibilities
  - impact on global growth
  - actual market message and anticipated market sentiment and reaction
  - relevance of US experience both positive and negative in fixing its banking system and stimulating its economy
  - relevance of the European and IMF firewall
  - David Cameron’s three-point plan
- Outcomes
  - we will preserve the foundations of the eurozone
  - ultimate decisions will be taken in the eurozone, European summit on May 23
Greece
- Discussions
  - political events and prospects and in Greece
- Outcomes
  - Greece must stay in Eurozone, we will do all we can to that end
G8 Growth Approach
- Discussions
  - specific steps to move forward
  - different country-specific sequences and timelines for fiscal consolidation
  - stimulus through structural reform or demand or a combination of the two
  - how to build confidence if countries back off on fiscal consolidation because of the recession
  - specific concepts and actions for growth and jobs
- Outcomes
  - coherent and common goal and approach for stronger growth and jobs with fiscal consolidation
  - imperative for a comprehensive approach to jobs and growth, to manage crisis and set a sustainable path towards recovery in Europe
  - a strong growth agenda, coupled with a responsible approach to fiscal consolidation
Trade
- Discussion
  - trade liberalization including transatlantic as a component of growth
- Outcomes

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	Please send comments to: g7@utoronto.ca This page was last updated May 18, 2012.