G7
Canadian Finance Minister Jim Flaherty,
French Finance Minister Christine Lagarde,
German Finance Minister Peer Steinbrueck,
U.S. Treasury Secretary Henry Paulson,
Italy's Finance Minister Tommaso Padoa-Schioppa,
Japan's Finance Minister Fukushiro Nukaga,
UK Chancellor of the Exchequer Alistair Darling and
Chairman of the Eurogroup, Jean-Claude Juncker.
The G7, or G-7, is a group consisting of the finance ministers of seven industrialized nations: the U.S., U.K., France, Germany, Italy, Canada and Japan. They are seven of the eight (China excluded) wealthiest nations on Earth, not by GDP but by global net wealth. The G7 represents more than the 66% of net global wealth ($223 trillion), according to Credit Suisse Global Wealth Report September 2012. The last meeting of the G7 took place in May 2013 in Aylesbury in the United Kingdom.Other meetings of the G7 are already planned.
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History [edit]
The G7 began in 1975 as the Group of Six and included the countries of France, West Germany, Italy, Japan, United Kingdom, and United States and was joined by Canada the following year.[1] Collectively, the G7 nations comprised 50.4% of global nominal GDP and 39.3% of global GDP (PPP). This group meets several times a year to discuss economic policies. Their work is supported by regular, functional meetings of officials, including the G7 finance disputes.[2]
The G7 met in Washington, D.C., twice in 2008[3] and in February 2009, in Rome, to discuss the global financial crisis of 2007-2010.[4][5] The group of finance ministers has pledged to take "all necessary steps" to stem the crisis.[6]
| Date | Host country | Host leader | Location held |
|---|---|---|---|
| November 15–17, 1975 |  France |
Jean-Pierre Fourcade | Château de Rambouillet, Rambouillet |
| June 27–28, 1976 |  United States |
Jan Jordan Rodriguez | Dorado Beach Hotel, Dorado, Puerto Rico |
| May 7–8, 1977 |  United Kingdom |
Denis Healey | 10 Downing Street, London |
| July 16–17, 1978 |  West Germany |
Hans Matthöfer | official residence of the Chancellor of the Federal Republic of Germany Bonn |
| May 28–30, 1983 | United States |
Ronald Reagan | Colonial Williamsburg, Williamsburg, Virginia |
| June 19–23, 1988 |  Canada |
Michael Wilson | Metro Toronto Convention Centre, Toronto, Ontario |
| July 9–11, 1990 | United States |
James Baker | Rice University and other locations in the Museum District Houston, Texas |
| June 15–17, 1995 | Canada |
Paul Martin | Summit Place, Halifax. Nova Scotia |
| June 27–29, 1996 | France |
Jean Arthuis | Museum of Contemporary Art (Musée d'art Contemporain de Lyon), Lyon |
| February 11–13, 2001 |  Italy |
Vincenzo Visco | Palermo |
| February 6–8, 2010 | Canada |
Jim Flaherty | Iqaluit, Nunavut 2010[7] - finance minister's meeting at the Legislative Assembly of Nunavut[8] |
Gallery [edit]
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G7 Statue, Parc de la Tête d'Or, Lyon (1996)
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plaque for statue, Lyon (1996)
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plaque for Statue, Lyon (1996)
See also [edit]
References [edit]
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Wikimedia Commons has media related to: Group of Seven |
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Wikinews has related news: Economic policy makers conclude Washington meetings |
- ^ 2008 Evian summit - Questions about the G8
- ^ "Who Are the group of Seven?". Women's International Media group. 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.
- ^ Yahoo.com[dead link]
- ^ Simon Kennedy, "G7 Commit to 'All Necessary Steps' to Stem Meltdown (Update3), Bloomberg L.P., October 11, 2008 20:56 EDT
- ^ Brennan, Richard J. (January 27, 2010). "Canada calls on developed nations to forgive Haiti’s debt". Toronto Star. Retrieved 2010-01-27.
- ^ "CBC News - North - G7 leaders enjoy Arctic outing before talks". Cbc.ca. 2010-02-05. Retrieved 2010-06-27.
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