Barack Obama was caught between two competing European visions of how to solve the financial crisis at the G8 summit when David Cameron rejected outright a French proposal to raise €57bn (£46bn) through a tax on financial transactions.The eurozone crisis is set to dominate four days of intense diplomacy which began in Washington Friday morning and continued through a meeting of G8 leaders at the presidential retreat Camp David on Friday evening. Discussions will continue there on Saturday and onto a Nato meeting in Chicago.
In talks at the White House, only hours before the Camp David summit, Obama met the new French president François Hollande for a one-to-one conversation in which he explored the possibility of a new approach to the eurozone crisis based on a pro-growth, stimulus strategy. Obama has been pressing for such a strategy for the last three years and has a potential ally in Hollande.
Read more: G8 summit: French €57bn financial tax plan rejected by UK | World news | The Guardian
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