We came to Deauville with four key objectives:

1. Support the democratic transition in Northern Africa
2. Speed up global recovery
3. Strengthen global nuclear safety
4. Keeping the G8 special commitment to Africa.

We can say that this was a successful G8 summit.

On Northern Africa and the Middle East, we have agreed on a global concerted response. The Deauville Partnership builds very much on the EU’s new partnership with the region, as clearly reflected in the Summit Declaration. We have had very useful bilateral meetings with the leaders of Egypt and Tunisia and are very pleased that the G8 stands side by side with these two nations. The 20 Billion US$ commitment from the multilateral development banks (of which 25% is money from the European Investment Bank) are a concrete expression of this solidarity. Substantial bilateral support from all G8 members will be added to this. This will include grants under the EUs budget for its neighbourhood (7 Billion Euro, of which 1,24 Billion Euro is fresh money, proposed by the Commission this week)1. This economic engagement is critically important for the success of the democratic transformation underway.

On the economy, we have seen clear determination by all partners to address those issues in each region that could hamper the global recovery, which we all want to speed up. Europe’s action to tackle the sovereign debt crisis faced by some members of the Eurozone is clearly recognized and supported by all.

On trade, the EUs concerns were shared by all. We are clearly in a difficult situation. The EU will continue to push for the Doha Development Agenda. With the G8 we remain fully committed to strengthen the multilateral system and liberalize world trade in line with the Doha mandate. We are pleased that the G8 specifically mentions the priorities of the Least Developed Countries, for which the EU already provides duty- and quota free access.

On Africa, our first ever joint declaration reflects that we are moving towards a true partnership. We believe the African accountability report is an important step forward. To help Africa increase their fiscal resources, the European Commission will table in October legislative proposals that include the obligation for companies to publish information about their activities, in support of the Extractive Industries’ Transparency Initiative.

On nuclear safety, the G8 agreement to review international standards, as the EU has asked for, shows that the G8 is serious about learning lessons from Fukushima. We are particularly pleased with the G8 endorsement of the need for stress tests around the globe. The EU will launch its own tests on 1 June. We cannot compromise on nuclear safety.