The G-7 or G-7, a group consisting of the finance ministers of the seven industrialized countries: the USA, Britain, France, Germany, Italy, Canada and Japan. They are seven of the eight (excluding China) richest nations on earth, not by GDP but by the total net wealth. The G7 represents more than 66% of the global net wealth ($ 223 billion), according to Credit Suisse Global Wealth Report September 2012. The last meeting of the G7 took place in May 2013 in Aylesbury in the UK. Other meetings of the G7 are already planned.
History
The G7 began in 1975 as the Group of Six and the countries of France, West Germany, Italy, Japan, United Kingdom and the United States and herein was joined by Canada the following year. Collectively, the G7 countries included 50.4% to the total nominal growth of 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.
The
G7 met in Washington, D.C., twice in 2008 and in February 2009, in Rome,
to discuss the global financial crisis of 2007-2010. The group of finance ministers has
pledged to take "all necessary steps" to stem the crisis.
| 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 GermanyBonn |
| 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 |
| 10-11 May, 2013 | United Kingdom | George Osbourne | Hartwell House Hotel and Spa, Aylesbury |
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