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Opinion document: The G7 in Brussels, an exceptional summit

The Group of 7 (G7) was created in 1973 consisting of the finance ministers and central bank governors of the then five most advanced economies: France, Germany, Japan, the United Kingdom and the United States. In 1975 Italy joined the Group and in 1977 Canada. With integration of Russia in 1988, the Group was called G7+Russia or G8. The European Union is also represented within the G7. The Group meets to discuss primarily economic issues and once a year the Group join in a summit. The IMF's Managing Director and representatives of other international organizations are present in the meetings. The presidency of the group rotates annually among member countries, with each new term beginning on 1 January of the year. The rotation order is: France, the United States, the United Kingdom, (Russia), Germany, Japan, Italy, and Canada. Recent G7 meetings include the 39th G8 summit took place on 17th and 18th June 2013. This year there was an emergency summit meeting in The Hague, Netherlands on March 24, 2014. On June 4th 2014 there was a summit meeting in Brussels, hosted by the European Union.

Author: Federico Yaniz Velasco


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The G7 in Brussels, an exceptional summit
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