The G7s

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 1975 as the Group of Six: France, Germany, Italy, Japan, United Kingdom, and United States. The following year, Canada was invited to join.[1]  As an economic and political group of seven developed countries with large economies (but not the seven largest overall), this powerful group of nations does not include any developing nations. Based on forecasts by PricewaterhouseCoopers LLP published in early 2010, the G-7 will be eclipsed in economic size by the world's largest emerging markets (E-7) within two decades, led by China. In 2000, the G-7's GDP was twice as large as the E-7 and in 2010 the gap has shrunk to 35 percent. The combined GDP of E-7 (China, India, Brazil, Russia, Mexico, Indonesia, and Turkey) is projected to match the G-7 around 2019.[2][dead link]As of January 2011, PriceWaterhouse says the G-7 will be overtaken by emerging economies in 2032. [3]  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.[4]  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.,[5] 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 2007-2010.[6][7] The group of finance ministers has pledged to take "all necessary steps" to help stem the crisis.[8] 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[9] and international press.[10] Wiki letter w cropped.svg     This section requires expansion. 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     No. 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     USA     Ronald Reagan     Colonial Williamsburg, Williamsburg, Virginia June 19–23, 1988     Canada     Michael Wilson     Metro Toronto Convention Centre, Toronto, Ontario July 9–11, 1990     USA     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 July 6–8, 2001     Italy     Vincenzo Visco     Palermo February 6–8, 2010     Canada     Jim Flaherty     Iqaluit, Nunavut 2010[11] - finance minister's meeting at the Legislative Assembly of Nunavut[12]

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