Today leaders from the worlds 8 biggest economies will meet in USA at the presidential retreat Camp David. The summit is expected to be focused at the eurozone crisis, and while the German chancellor Angela Merkel is expected to be rather isolated with her ideologies, the US president Barack Obama will be raising “specific” actions that he think the eurozone countries could do to solve the current crisis. On top of the agenda will be Greece and a potential euro exit.
The summit will also be a possibility for many of the leaders to meet and greet each other. New boy in the classroom is french president Francois Hollande. Obama is expected to find a new ally in Hollande, while also british PM David Cameron will get his chance to meet Hollande for the first time. Also Cameron is expected to get on the growth agenda put out by Francois Hollande.
The eurozone got another hard hit yesterday as 16 spanish banks and four spanish regions where downgraded by Moody’s rating agency. Greece was also downgraded to the lowest possible rating before default. This morning shares in Europe fell because of the worries over spanish banks and continued concern with Greece.
This weekend there will be presidential run-off in Serbia. This election will pretty much be pro or against the European Union, as the two candidates left in the race either supports the continuing process of Serbia – now officially candidate – to become a full member of the EU or fighting against this. The candidates left is pro-European Boris Tadic and nationalist Tomislav Nikolic. According to the latest polls, the pro-European candidate Boris Tadic is favorite to win the election.
After growing insecurity in Italy’s public administration because of the economic crisis, the government has now decided to step up the security forces. This happens after a spate of violent attacks on tax collectors and the shooting of an energy company official last week.