Telegraph: G8 summit: Reasons not to be cheerful - by David Blair

For the complete report from the Telegraph click on this link

G8 summit: Reasons not to be cheerful - by David Blair

The presidents and prime ministers who will arrive at Lake Toya on the island of Hokkaido are, almost without exception, on the brink of leaving office or beset by domestic trouble. At a time when the global economy faces turmoil, the world has rarely witnessed such a bedraggled collection of crippled leaders. President George W Bush, the G8's foremost member, is only six months away from leaving office and might suffice as a textbook definition of a lame duck. Gordon Brown, facing terrible opinion polls two years before a general election, might not be lame but is certainly hobbled. Angela Merkel, the German chancellor, is as secure as any leader of a coalition can be. President Nicolas Sarkozy of France is the only leader completely safe in office until 2012. Yet even his opinion poll ratings have fallen recently. Almost every leader in the democratic world is unpopular, largely because of Tuesday's top subject: the state of the global economy. Sharp price rises in food and commodities, turbulent financial markets and the onset of a credit crunch after years of plenty, are inflicting pain across the world. Only the largest oil producers – including Russia and Canada – have been shielded from harm.