This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

European Growth Still On US Agenda, Not As Loudly

By JIM KUHNHENN

WASHINGTON (AP) â¿¿ When leaders of the nation's biggest economies gathered at the presidential retreat of Camp David last year, European elections had rattled the continent with a rejection of austerity measures. President Barack Obama was himself seeking re-election. The sense of urgency was palpable as Obama made an emphatic pitch for Europe's powers to focus more on economic growth.

These days, as Obama prepares for another summit of the Group of Eight industrial nations next week, the furor has died down. Financial tensions in Europe have eased, high-debt nations have been given more time to work on their fiscal cuts, and even the language has changed from "austerity" to "growth-oriented structural reforms."

"The context of that discussion has changed a lot over the past year," said Caroline Atkinson, a senior White House international economics adviser.

Still, much of the eurozone remains mired in or near recession. Obama's appeals have had mixed results in softening the demands on some of the most debt-ridden European nations to cut their spending. While the U.S. still wants Europe to temper the debt trimming and increase global demand, Obama is not expected to be as insistent with other G-8 leaders this time as they meet at a luxury hotel and golf resort beside Lough Erne in Northern Ireland's County Fermanagh lakeland.

Moreover, Obama arrives at the G-8 with Syria foremost on his mind. His decision to authorize lethal aid to Syrian rebels inevitably will be front and center during the summit, complicated by the attendance of Russian President Vladimir Putin, one of Syrian President Bashar Assad's most powerful backers.

When Obama spoke by phone Friday with the leaders of Britain, France, Italy and Germany, they discussed Syria and the Assad regime's use of chemical weapons against its own people and ways to support a political transition to end the 2-year-old civil war, a White House statement said.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,570.77 +171.10 1.04%
S&P 500 1,932.11 +28.10 1.48%
NASDAQ 4,390.5120 +74.4380 1.72%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs