Eurozone has capacity to tackle debt crisis: Obama

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The eurozone debt crisis was threatening the global economic recovery, but the region had capacity to meet its challenges, U.S. President Barack Obama said on Saturday.

A stable and growing European economy was in everyone's best interest, Obama told reporters after the Group of Eight (G8) summit concluded at Camp David in the state of Maryland.

All the G8 leaders agreed that growth and jobs must be the top priority, he stressed.

"The direction the debate has taken recently should give us confidence," said Obama, adding that there was an emerging consensus that more must be done to promote growth and job creation.

The escalating eurozone debt crisis dominated the global attention as the G8 leaders made efforts to bridge their policy divisions at Camp David, the U.S. presidential retreat.

"The global economic recovery shows signs of promise, but significant headwinds persist," the G8 leaders said in a declaration released by the White House, adding that "our imperative is to promote growth and jobs."

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