G8 Summit in Washington Ends Silently!

-DR. ABDUL RUFF

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Preface

Global state terror (GST) nations harm the genuine interests of humanity.  Currently Washington, which leads the GST wars,  is an avenue for big summits of GST leaders - both G8 and NATO bosses are meeting there one after another to decide the fate of humanity against the people's genuine interests. 

Agenda of G8 in USA

The G8 leaders met on 18-19 May for a summit amid fears of economic collapse in Europe amid rising popular opposition to social austerity measures, as well as escalating wars and military tensions internationally. The eurozone was expected to top the agenda when the leaders of the US, Germany, France, Britain, Japan, Russia, Italy and Canada hold a full day of talks  at their annual summit. The G8 bosses discussed many issues. Economic agenda dominates and supersedes all of them.

US unilateral President Obama opened the G8 summit to focus on the eurozone crisis with a lavish dinner for the partners of US imperialism at the famous retreat Camp David, Maryland, near Washington. At the dinner G8 also informally debated political issues; they discussed Iran and North Korea's nuclear ambitions and Syrian unrest, etc.  They agreed North Korea faces further isolation, if it "continues down the path of provocation". On Iran, leaders agreed that the onus was on the government in Tehran to prove the claim that its nuclear programme was peaceful. On Syria, the leaders, including an unwilling Russia's Prime Minster Dmitry Medvedev, were in agreement that the UN-backed peace plan had yet to be fully implemented and that there was now a need to move towards a political transition. However, none of these issues is genuine or simple.

Earlier, Obama and the new French President, Francois Hollande, made it clear that they wanted a focus on economic growth. The French president said he and Obama shared "the same conviction that Greece must remain in the eurozone". Obama said that tackling the debt crisis in Europe was an issue of extraordinary importance not only to Europe, but for the whole world. The US president wanted "fruitful" discussions with other G8 leaders, with a strong focus on economic growth. Britain seeks decisive action from eurozone countries in terms of strengthening eurozone banks, in terms of a strong eurozone firewall and decisive action over Greece. That has to be done.

Even as the deepening financial crisis in Europe threatened the entire global economy with instability of banks and the ever increasing public deficit, the so-called most important G8 summit for three decades, as named by the big powers, to promote “growth and jobs” has ended without credible results with no plan to meet the crisis. The G8 leaders do not have any productive response to the global crisis.  

Greece, now under a caretaker government, said that German Chancellor Angela Merkel had suggested that the country could hold a referendum on whether to remain in the eurozone when it votes in national elections next month. The German chancellor "conveyed thoughts about a vote parallel to the election with the question to what extent do the Greek citizens wish to remain within the eurozone". However, it is clear that the matter is beyond the competence of the caretaker government. New Greek elections have been scheduled for 17 June. Meanwhile, Berlin denied such a proposal had been made. 

The result of the poll could determine the fate of austerity measures which Greece's international creditors are insisting on. Investors fear any refusal by Athens to impose deep spending cuts agreed under a bailout deal could result in the country quitting the bloc of 17 countries that use the euro. Larger countries such as Spain or Italy that are struggling to ease their debt loads might then become vulnerable, potentially triggering wider eurozone upheaval and even a global financial crisis to rival the one of 2008.

None is committed to anything. G8 bosses want the austerity measures, involving cuts in government spending targeting social programs, to be continued and further tightened and therefore, rejected any possible fiscal stimulus measures type of 2008-2009. No austerity measures could be carried out anywhere in the West in the face of ferocious opposition from people as well as global financial markets, representing the interests of the banks and financial institutions.

Banks and financial institutions try to avert a financial crisis. They all try to make debt-stricken Greece to remain in the euro zone and to ensure that the euro is not collapsed. So, the austerity measures that have plunged Greece into economic conditions not seen since the 1930s have to be continued, maybe indefinitely. Last November, the then Greek PM George Papandreou formally proposed a referendum - ostensibly on the bailout, but it would have turned out to be on euro membership. The idea caused outrage from Mrs Merkel and then French President Nicolas Sarkozy, furious that the Greek government could play such a potentially dangerous game with the euro. EU will hold a summit shortly to discuss, among other items, a proposal to empower the euro zone’s €500 billion rescue fund to directly recapitalize European banks and to issue euro zone bonds.

Observation

Obviously, as the debates show, Americans want to see more money injected into the European financial system from elsewhere to protect the banks, and thereby US financial interests. Hence USA has expanded its policy interests in Asia. However, USA wants public-private partnerships and the loosening of credit.

Some Notes

Obviously, the world leaders keep enjoying life at regular interval, even as the NATO terror syndicate keeps killing innocent people in occupied Afghanistan, Pakistan and elsewhere. In fact, after murdering some target of  Muslims, these rogues meet at a place to celebrate consuming the Muslim corpses and blood supplied by the their state terrorists in the name of summits. 

Through the G8 discussions on Afghanistan, Iraq, Pakistan and of possible wars in Syria and Iran make clear that the European and American capitalist powers are preparing for escalating imperialist wars abroad—in the Middle East and, ultimately, against other opponents. 

USA continues to bully Europe by control leverages by using the NATO and coercing them to finance their collective, illegal wars in Islamic world. Russia's ambivalent position on NATO terrorism has benefited the Americans more than the Europeans. 

After the 2day G8 summit ended, most of the leaders decamped to Chicago to join a larger group of international officials for another 2 day NATO summit on 19-20 May, at which Afghanistan is expected to be the main item on the agenda.

That would be the theme of the next story.