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President Obama held a press conference Friday in L’Aquila, Italy, highlighting the achievements of the three day G8 Summit.

The President said that, at the conclusion of the summit, the world leaers in attendance had made significant headway on ecomnit recovery, nuclear non-proliferation, climate change, and food security.

Mr. Obama also declared that full economic recovery is still “a ways off,” although “we appear to have averted global collapse.”

He also discussed issues with Iran, his meeting with the pope, and his stopover in Africa.

The full transcript of Mr. Obama’s press conference on July 10, as released by the White House, can be found below:

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Politics Today is CBSNews.com's inside look at the key stories driving the day in Politics, written by CBS News Political Director Steve Chaggaris:

**President Obama wraps up G-8 meeting; meets with the Pope; heads to Ghana...

**Congress continues wrangling over health care legislation...

**Senate gears up for Sotomayor hearings...

**Burris to retire; another Ensign bombshell; latest on Palin...

PRESIDENT OBAMA: This morning, President Obama wrapped up the G-8 summit with a press conference before heading to the Vatican to meet with Pope Benedict XVI and then flying to Ghana. More on the press conference here.

Agence France-Press previews the president's first meeting with the Pope: "Barack Obama's meeting with Pope Benedict XVI at the Vatican on Friday carries more weight than normal for the new US president, the White House said. ... Obama, a committed Christian, will have his first audience with the pope since becoming president shortly after the end of a three-day Group of Eight summit in the Italian town of L'Aquila. He will be accompanied by his wife Michelle.

"After taking office in January, Obama ended his predecessor George W. Bush's restrictions on government funding for embryonic stem cell research and for family planning groups that carry out or facilitate abortions overseas.

"'The fact however is that, given the influence of the Catholic Church globally as well as in the United States, and frankly given the influence of the Catholic Church and Church social teaching on the President himself, he recognises that this is much more than your typical state visit,' said [Deputy National Security Adviser Denis] McDonough. 'I do believe that it's fair to say that the President very much looks forward to this visit.'"

Bloomberg News' Lorraine Woellert, "Democrats Link Pope's 'Economic Justice' Plea With Obama Agenda"

Politics Daily's David Gibson, "Pope Benedict's Meeting with Obama a Setback for Conservative Catholics"

Earlier today, the president and the members of the G-8 met with the Outreach 5 (Egypt, Algeria, Senegal, Nigeria, Libya, Ethiopia). Mr. Obama then met unilaterally with South African President Jacob Zuma.

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Politics Today is CBSNews.com's inside look at the key stories driving the day in Politics, written by CBS News Political Director Steve Chaggaris:

**President Obama in Italy...

**Biden to announce agreement with hospital industry as Congress continues work on health care...

**Democrats wrestle with talk of second stimulus...

PRESIDENT OBAMA: After wrapping up two days of meetings with Russian leaders in Moscow, President Obama flew to Italy this morning for a three day G-8 summit.

Mr. Obama is now in L'Aquila, the site of the G-8 meeting, that will focus on reducing greenhouse gas emissions. Other global issues such as the economy, Afghanistan, Iran, world poverty, nuclear arms are also expected to be discussed.

"The G-8 meetings may lack the intrigue of Obama's sit-downs earlier in the week with Russia's top leaders, or the emotion of the reception the first black American president surely will get in Ghana Saturday," writes the Associated Press' Charles Babington.

"But they won't lack for ambition, on the surface at least, as the world's most powerful officials discuss the problems threatening the planet. Obama and the leaders of seven other industrialized nations had meetings set at the picturesque L'Aquila, northeast of Rome, before they were to widen their circle to include fast-growing countries like China and India, and struggling nations from Africa. In large and small groups, the talks will involve trade, Iran's nuclear ambitions, food security and other issues. ... Topping the list of G-8 discussions are possible ways to slow the release of greenhouse gases linked to global warming."

Tribune's Christi Parsons and Mark Silva, "Obama at G-8: fragile consensus"

CBS News senior White House correspondent Bill Plante, who's traveling with the president, notes that a devastating earthquake in L'Aquila in April killed almost 300 people and drove thousands from their homes. Berlusconi moved the summit here in a show of support. There are still regular aftershocks - and with the leaders of almost 40 nations staying there, there's an emergency plan to airlift them out in case there's another serious quake, Plante reports. Italy is deploying thousands of police officers as it seeks to avoid the violence that marred the last G-8 summit held in this country, when one protester was killed and more than 200 were injured in Genoa in 2001.

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President Obama and First Lady MIchelle Obama will travel to Rome, Italy today.

Mr. Obama will meet with Italian President Giorgio Napolitano at the Quirinale Palace in Rome, and the two men will deliver brief statements to the press.

Following the meeting, Mr. Obama will travel to L'Aquila. He will be greeted at the Guardia di Finanz School, the site of the G8, by Italian Prime Minister Silvio Berlusconi. The president will then attend a working lunch, followed by a G8 session on global issues.

In the evening, the president and Prime Minister Berlusconi will tour L'Aquila's historic center. At night, Mr. Obama will attend a G8 working dinner at the Guardia di Finanz School.

Back in the United States this morning, Vice President Joe Biden, Health and Human Services Secretary Kathleen Sebelius, Sen. Max Baucus (D-Mont.) and representatives of the hospital industry will make a major health care announcement.

Here is more from the White House press office (all times Eastern):

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