G-8 Group of Eight

By: EconomyWatch   Date: 30 June 2010

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The G-8, or Group of Eight, is a group of heads of state from eight industrialized democracies in the northern hemisphere.

The G-8 used to be known as the G-6, or Group of 6. In 1976, Canada joined, making the group the G-7. Then, in 1997, Russia joined forming the G-8.

The European Union is also represented in the G-8 but is not accorded the same status as each of the countries that form the eight. Some have called in the G-9, in recognition of the EU, who has participated on an even level as all the other nations since its inclusion.

The format of the organization and the structure of the meetings is informal, and as a result has little administrative format or framework like the IMF or World Bank have.

The United Kingdom and France have both pushed to include five emerging economies into the group. These are Brazil, India, Mexico, China, and South Africa. Some have called these countries teh Outreach Five (O5) or the Plus Five.

In fact, these five nations have been included in talks, which then are dubbed the G8+5 meetings.

Italy, France, and Germany have shown a desire to include Egypt into the O5, and transform the G8 into G14 (8+6).

 

The G-8 membership list is as follows:

 

G-8 meeting list:


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