G20 Summit Should Focus On More Than Just Economic Issues, Says Expert

By Linn Grubbstrom
Talk Radio News Service

The G8 and G20 summits taking place in Toronto, Canada later this week will mark the fourth G20 meeting held in less than two years. However, at this summit, the 20 nations that comprise the group should focus more on big-picture issues than just trying to bring their economies back from recession, said economic expert David Shorr on Monday.

"When they had their first summit meeting it was right in the middle of the financial meltdown and that was sort of an emergency meeting," Shorr told Talk Radio News Service. "What will be interesting is to see how they make the transition from emergency response to dealing with things not immediately in crisis, but dealing with more of the structural problems."

The main focus during this summer's G20 summit will be solving the debt crisis in Europe, and the global financial crisis in general. Meanwhile, the G8 summit figures to center on security issues, economic development in less developed countries and the nuclear situation in Iran. According to Shorr, an official with the Stanley Foundation, a nonpartisan think tank based in Iowa, the security issue is something that should be addressed by the G20 as well.

"I think that it is important for the larger group that brings together the old and new powers to deal not just with the economy but also with political and security matters. Because the logic that pushes the old and new powers together on the global economy is in someway no different from the need for them to be together on these other challenges of international security," he said.

Obama Tells G8 Leaders That Health Care Reform Will Lower U.S. Deficit

By Sam Wechsler - Talk Radio News Service

Health care reform will drive down the federal deficit, President Obama said at a news conference Friday at the G8 summit in L’Aquila, Italy. Obama also discussed Iran, saying he hopes to soon welcome the politically-embroiled nation into the international community.

Obama said he understands Republicans’ concern for the U.S.'s massive budget deficit, but said “what cannot be denied is that the only way to get a handle on our medium and long term budget deficits is to corral and contain health care costs.” Obama said that while it is not absolutely necessary, he wants to pass a health care reform bill by the August congressional recess.

“My biggest job is to explain to the American people why this is so important and give them confidence that we can do better than we’re doing right now,” said Obama.

As for the nuclear weapons program in Iran, President Obama stated that he would evaluate that at the G20 meeting in September.

“The international community has said ‘here’s a door you [Iran] can walk through that allows you to lessen tensions and more fully join the international community.’ If Iran chooses not to walk through that door you have on record, the G8 to begin with, but I think potentially a lot of other countries that say we need to take further steps,” said Obama.