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Global Economy at Center of G-8 Summit


Leaders of the world's eight major industrial countries have opened a three-day summit in central Italy with a focus on the global economy.

News reports from summit site, the earthquake-ravaged city of L'Aquila, say a draft declaration under consideration notes some signs of economic stabilization, but warns that significant risks remain. The statement expresses the commitment of the leaders to prepare exit strategies for unwinding the extraordinary measures, currently in effect, when conditions in individual countries permit.

Prior to the summit, some of the leaders toured the L'Aquila for a look at the devastation from the April earthquake that killed nearly 300 in the area.

The leaders are also expected to discuss climate change, nuclear proliferation, world hunger, trade, aid to developing countries, the political crises in Iran and Honduras, and ethnic violence in China's Xinjiang region.

U.S. President Barack Obama met with Italian President Giorgio Napolitano in Rome before traveling to L'Aquila.

A series of aftershocks has plagued the area around L'Aquila and Italian officials say they are prepared to airlift G-8 leaders away from the summit site should another major quake hit.

President Obama traveled to Italy from Moscow, where he met Russian President Dmitri Medvedev.

The two men signed a framework agreement on a new treaty that would sharply cut the number of each country's nuclear weapons.

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