Some highlights from President Obama's opening statement at his ongoing Press Conference:

 

Thanks L'Aquila for welcoming the G8.

** Challenges of time threaten peace and prosperity of nation and no nation can beat challenge alone

** Reckless actions by a few - recession that spans the globe.

** We can either shape or future

** After weeks of preparation and 3 days of candid discussions. Take significant measure to address environment and international security

** widespread consensus must all continue work to restore economic growth

** US has taken the lead on the reform of home with an overhaul of our regulatory system

** Full recovery is still a ways off. Premature to wind down stimulus plans. Return to fiscal sustainability after recovery has started

** stop spread of nuclear weapons. In Prague, I laid out goal, in Moscow, Russian President Medvedev and I agreed to reduce weapons, this week G8 embraced what I outlined in Prague

** Invited leaders from broad group of nations to confernece on nukes I will hold in DC

** Real time challenge on nuclear arms in Iran.

** Seriously concerned about events surrounding presidential election, worried about nukes. We offered a path, but with that comes responsiblities. We will take stock in Sept at g20

** By 2050 reduce emissions by 80%. 17 of world leading economies made commitments to reduce emissions

** Did not reach agreement on every issue. work to do on climate change

** 20 billion dollars on food security. In addition to emergency humanitarian aid. Going into the meeting we had agreed to 15 billion but we got 5 more. Purpose of aid is to create conditions where aid is no longer needed.

** additional one on one meetings
     * talked about Iran and North Korea
     * talked about economies
     * Climate change

** defining problems won't be solve in one set of collective actions

** combat threats to peace and prosperity

** none of the work will be easy. we have not agreed on every point. Shown it is possible to move forward and make real progress together