G8 confident of global economic recovery

The Group of Eight nations voiced confidence in the world economy's growth potential today in a final summit statement that made…

The Group of Eight nations voiced confidence in the world economy's growth potential today in a final summit statement that made no mention of currencies or interest rates.

The statement issued by the French summit presidency said: "Our economies face many challenges. However, major downside risks have receded and the conditions for a recovery are in place.

"We are confident in the growth potential of our economies".

The statement issued at the end of the three-day summit also said the Group should rely more strongly on structural reforms to its member economies.