BBC News: Reports that the US and French stress on growth won out in the debate at the G8 about the present crisis facing the US and Europe, the losers in the debate are seen as the UK and Germany and their austerity plans.
Lets Get Real:
It does not matter what the US and France want, its Germany that holds the money strings, the US has a near 16 trillion debt, POTUS is taking the class warfare attack at present to keep his uber liberal base happy. In the case of President Hollande he is still in Campaign mode, he has Parliamentary elections coming up, thus he cant fold, he needs to stress growth, as if this is some cure to all the economic ills facing Europe. The nightmare for Hollande after just winning the election would be to share power with the extreme right wing PM, that would be a political nightmare for him and the his left party. The Germans and the UK will of course stress growth but they are not going to drop their austerity plans to keep Hollande happy, as it was noted in Germany of late, the Germans are not going to pay for French election promises.
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