america is no longer one of the wealthist countrys in the world;; america can nolonger belong to the orginazation called G-*.. which is un-constitional: Group of Eight redirects here. For other uses, see G8 (disambiguation). The Group of Eight (G8) is the name of a forum for the governments of a group of eight leading advanced economies that was originally formed by six leading industrialised countries and subsequently extended with two additional members (Canada and the European Commission). Russia, which was invited to join as the eighth nation, was excluded from the forum by the other members on March 24, 2014, as a result of its involvement in the 2014 Crimea crisis in Ukraine. Thus the group will continue to meet comprising seven nations and the EU. The forum originated with a 1975 summit hosted by France that brought together representatives of six governments: France, West Germany, Italy, Japan, the United Kingdom, and the United States, thus leading to the name Group of Six or G6. The summit became known as the Group of Seven or G7 in 1976 with the addition of Canada. The G7 is composed of the seven wealthiest developed countries on Earth (by national net wealth or by GDP), and it remained active even during the period of the G8. Russia was added to the group from 1998 to 2014, which then became known as the G8. The European Union was represented within the G8 since the 1980s but could not host or chair summits. The 40th summit was the first time the European Union was able to host and chair a summit. G8 can refer to the member states in aggregate or to the annual summit meeting of the G8 heads of government. The former term, G6, is now frequently applied to the six most populous countries within the European Union. G8 ministers also meet throughout the year, such as the G7 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers. Collectively, in 2012 the G8 nations comprised 50.1% of 2012 global nominal GDP and 40.9% of global GDP (PPP). Each calendar year the responsibility of hosting the G8 is rotated through the member states in the following order: France, United States, United Kingdom, Russia, Germany, Japan, Italy, and Canada. The holder of the presidency sets the agenda, hosts the summit for that year, and determines which ministerial meetings will take place. Both France and the United Kingdom have expressed a desire to expand the group to include five developing countries, referred to as the Outreach Five (O5) or the Plus Five: Brazil (7th country in the world by nominal GDP,) Peoples Republic of China (2nd country in the world by GDP,) India (10th country in the world by GDP,) Mexico, and South Africa. These countries have participated as guests in meetings which are sometimes called G8+5. With the G-20 major economies growing in stature since the 2008 Washington summit, world leaders from the group announced at their Pittsburgh summit on September 25, 2009, that the group would replace the G8 as the main economic council of wealthy nations. Today, G8 meetings are held with the purpose of discussing global issues such as economic growth, crisis management, global security, energy and terrorism without the governments of the developing nations, which have their major forum. On March 24, 2014, the original G7 nations voted to effectively suspend Russia from the organization in response to the countrys annexation of Crimea; however, it was made clear that the suspension was temporary. Later on, the Italian Foreign Affairs minister Federica Mogherini and other Italian authorities, along with the EastWest Institute board member Wolfgang Ischinger, suggested that Russia may restore its membership in the group, adding that the return to the G8 format depends on Moscow and on Russian actions.
Posted on: Sun, 28 Dec 2014 03:26:49 +0000
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