G8 begins talks ahead of G20

G8 leaders have arrived in Huntsville in Canada where they are holding talks ahead of the larger G20 gathering in Toronto this weekend.
 
The group of eight rich nations is looking less relevant in an increasingly global economy but as Canadian Prime Minister Stephen Harper welcomed his guests he denied the G8 had become little more than a warm-up act.
   
This is the first G8 summit for Britain’s new premier, David Cameron.
 
On the agenda is how to keep much applauded aid pledges made five years ago in Gleneagles. That is made all the more difficult given the current financial crisis. And tackling that could prove a divisive issue.
 
US President Barack Obama has openly expressed his concern about the budget cuts being implemented in many European countries. He is worried they could put economic recovery at risk.
 
Meanwhile, lawmakers in the US have just agreed a major overhaul of financial institutions.
 
            

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