G8 Leaders Press for Growth

Mandel Ngan / AFP-Getty Images

Meeting at Camp David on Saturday, heads of the G8 pressed German chancellor Angela Merkel for growth policies to pull Europe's ailing economies out of recession. President Obama found broad support for his argument that Germany's insistence on across-the-board austerity has failed to solve the crisis, and that governments should invest in jobs and growth. French president Fraçois Hollande said he would present a plan for euro bonds, one proposed measure to relieve indebted governments that Germany has opposed. The leaders did acknowledge, however, that deficits had to be addressed, including through austerity measures.