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The G7 (also known as the G-7) is the meeting of the finance ministers from a group of seven industrialized nations. It was formed in 1976, when Canada joined the Group of Six: France, Germany, Italy, Japan, United Kingdom, and United States.[1] The finance ministers of these countries meet several times a year to discuss economic policies. Their work is supported by regular, functional meetings of officials, including the G7 Finance Deputies.[2]
It is not to be confused with the G8, which is the annual meeting of the heads of government of the aforementioned nations, plus Russia.
The G7 held a meeting on April 11, 2008, in Washington D.C.,[3] met again on October 10, 2008, in Washington D.C., and then met again on February 14, 2009, in Rome, to discuss the global financial crisis of 2007-2009.[4][5] The group of finance ministers has pledged to take "all necessary steps" to help stem the crisis.[6] Japanese Finance Minister Shōichi Nakagawa's behavior at a press conference for the latter meeting, where he allegedly behaved as if intoxicated, was the subject of criticism from the Japanese[7] and international press.[8]
Summits
- Rambouillet, France 1975
- San Juan, Puerto Rico 1976
- London, UK 1977
- Bonn, Germany 1978
- Williamsburg, VA, USA 1983
- Toronto, Canada 1988
- Houston, USA 1990
- Halifax, Canada 1995
- Lyon, France 1996
- Palermo, Italy 2001
- Iqaluit, Canada 2010
See also
References
- ^ "The early history of the G7". Britannica Online. http://www.britannica.com/EBchecked/topic/1008689/Group-of-Seven. Retrieved 2008-10-22.
- ^ "Who Are the group of Seven?". Women's International Media group. http://www.womensgroup.org/G-7REPOR.html. Retrieved 2008-10-22.
- ^ Bo Nielsen, "G7 Statement Fails to Convince Major Traders to Change Outlook, Bloomberg L.P., April 14, 2008
- ^ Simon Kennedy, "G7 `Against the Wall,' Weighs Loan-Guarantee Plan (Update1), Bloomberg L.P., October 10, 2008 08:06 EDT
- ^ [1]
- ^ Simon Kennedy, "G7 Commit to 'All Necessary Steps' to Stem Meltdown (Update3), Bloomberg L.P., October 11, 2008 20:56 EDT
- ^ Tuesday, Feb. 17, 2009 - Quotes of the Day - TIME.com, Time Inc., February 17, 2009
- ^ Feb. 18, 2009 - Japan Economy: Japan’s GDP Shrinks 3.3%, Finance Minister Drunk at G7 Meeting - EconomyWatch.com, Retrieved on 2008-03-31.
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