G8 Research Group

Prospects:

The state of the global economy is always of interest to the leaders of the G8 countries, however there are several obstacles that may prevent Italy from obtaining its objectives at the 2011 Deauville Summit. One of Italy’s top priorities, addressing the sovereign debt crisis by introducing Eurobonds, is not likely to be discussed at the 2011 Summit due to opposition by other G8 countries such as Germany. Its second priority, addressing commodity price volatility may also not be addressed. Although it is an issue of interest to the G8 countries, the global economic recovery has been steered primarily by the G20, and the French Presidency has expressed the view that the G8 “avoid duplication of the G20 agenda.”Italy’s final priority is more likely to be discussed at the summit, since Italy’s concern over nuclear energy stems from the crisis at the Japanese Fukushima plant, which coincides with France’s expressed interest in discussing nuclear safety protocols.  Similarly, its interest in solar power as a source of energy may also be discussed, since France has also indicated that it wishes to address “green growth and innovation” at this year’s summit. Italy is therefore likely to achieve one of its three priorities in this area.

Emily Evangelista & Jessie Sun