G8: Global economy remains at risk

L'AQUILA, Italy, July 8 (UPI) -- Group of Eight leaders in Italy OK'd a statement recognizing the global economy is at risk and countries should handle stimulus exit strategies individually.

Meeting on the first day of their three-day summit, G8 participants said Wednesday even though there were signals of stabilization, the overall economic situation was uncertain, and economic and financial stability remained significantly at risk, the Italian news agency ANSA reported.

G8 leaders -- representing the United States, Russia, Japan, Germany, Britain, France, Italy and Canada -- said once the global economy does pick up, each country should decide its own exit strategy from any stimulus plans based on "domestic economic conditions and public finances."