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President Barack Obama kisses German Chancellor Angela Merkel on the cheek on arrival for the G8 Summit Friday, May 18, 2012 at Camp David, Md. (AP Photo/Charles Dharapak)

Europe's money woes dominate G8

U.S. President Barack Obama pledged at a summit on Saturday, May 19, to work with Europe on a package that balances growth with debt reduction as world leaders try to prevent the worsening euro zone crisis from destabilizing the global economy.