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A-O Special Coverage

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G-8 July Summit Round Up

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G-8 Meets in Italy

(A-O Newswire) -- The G-8 was scheduled to meet in Rome, Italy this summer, but after a devastating earthquake in L'Aquila, Italy -- not far from Rome the venue was transfered to the quake ravaged community to spotlight the devastation of the quake.

The agenda of the G-8 meeting focused on world economic conditions, climate change, and Middle East politics. The A-O Report is providing special coverage of this summit with a round up of articles as presented below.

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Hopeful on Economy

G-8 leaders discussed the world economy and expressed hope that economic conditions would be improving in the coming months. The leaders noted signs of stabilization in economic statistics but note that signficant risks remain.

The primary issue of discussion stemmed around governments stimulating their economies with additional spending programs. The leaders were unable to agree on specific spending measures and were left with agreeing to let each country determine for itself how much government spending should be used to further stimulate their economies.

President Obama wanted the G-8 to leave the door open to more spending stimulation amid concerns that the previous $2 Trillion dollars in stimulus spending has not sufficiently renewed the world's economy.

As a result of the agreement, each country will determine for itself whether additional stimulation is needed. The agreement was a partial victory for President Obama as the White House considers the possibility of additional stimulatoin for the US economy. More Details, LINK HERE.

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G-8 Agrees on Climate Targets

But Will They Follow Through?

G-8 leaders agreed to new targets for combating global warming by agreeing to measurses believed to be able to keep the world's average temperature from climbing more than 2 degrees Celsius. It's part of a new coordinated efforted to reduce greenhouse gasses which are thought to be a major cause of global warming. Until now, the G-8 had not been able to agree on such measures, largely because the Bush Administration opposed such measures.

The Bush Administration's problems with the G-8 environmental measures stemmed from concerns that nations like China and India as well as other developing nations would not cooperate and thus hold a major economic advantage that could decimate the economies of nations which did support the environmental measures.

The mainstream academic scientists have been claiming that without reductions in greenhouse gasses, the world faced catastrophic climate change that could result in the extinction of humanity. By establishing a 2-degree threshold, it is hoped that weather changes would be less severe, with less likelihood of shifting seasons, droughts, crop failures and devastating storms that ruin crops and destroy coastal cities.

Details of the new measures have yet to fully emerge but the idea is to reduce greehouse gas emissions by 80% in the next 40 years. More details on this G-8 issue, LINK HERE. Additional coverage, LINK HERE.

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G-8 Gives Iran Nuke Deadline

The G-8 Summit leaders issued a deadline for Iran to start negotiations on its nuclear program. The G-8 demands that Iran begin negotiations on its nuclear program by September or face the possibility of tough, new sanctions.

The deadline for September matches with a sidereal meeting of the G-8 in the first week of September during the UN General Assembly's annual convocation in New York. The G-8 will again meet during the G-20 summit to be held in late September in Pittsburgh, Pennsylvania. For more details, LINK HERE. Additional analysis has been posted to the A-O Report's donor's section - The A-O Insider Report.

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G-8 Condemns N. Korea Nuke Tests

The G-8 failed to enact any new sanctions against North Korea but did issue a condemnation of North Korea's nuclear test conducted this spring. More details, LINK HERE.

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