The G7 (also known as the G-7 or Group of Seven) 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 of America.[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]and met again on October 10, 2008, in Washington D.C, to discuss the current global situation with the markets.[4] The group of finance ministers has pledged to take "all necessary steps" to help stem the global financial crisis of 2007-2008.[5]
See also
References
- ^ http://www.britannica.com/EBchecked/topic/1008689/Group-of-Seven The early history of the G7
- ^ http://www.womensgroup.org/G-7REPOR An extensive look at the role of the G7
- ^ 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
- ^ Simon Kennedy, "G7 Commit to 'All Necessary Steps' to Stem Meltdown (Update3), Bloomberg L.P., October 11, 2008 20:56 EDT
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