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G8 leaders focus on eurozone crisis

world Updated: May 20, 2012 01:06 IST

G8 leaders tried to bridge divisions over how to halt Europe's rapidly-deepening economic crisis Saturday, as host President Barack Obama backed more pro-growth policies in the face of German opposition.

With the future of Europe's currency union in serious doubt, leaders gathered at Obama's Camp David lodge to weigh competing demands for growth-friendly spending with Germany's long-standing focus on spending cuts.

Obama stressed Europe's "extraordinary" importance for the US and said the G8 needs to discuss "a responsible approach to fiscal consolidation".