Group of Eight


Group of Eight
   / G8
   Originally the Group of Seven, or G7, the forum brings together the most economically important nations of the Northern Hemisphere: Canada, France, Germany, Italy, Japan, Russia, Great Britain, and the United States. Each year, the group holds a presidential summit in addition to regular meetings of the countries’ finance ministers. Catalyzed by the 1973 oil embargo on Western countries supportive of Israel, the G7 formed to discuss financial policy. Over time, the issues covered were expanded to include health care, law enforcement, energy, terrorism, trade, and the environment. The association is informal in nature, and agreements are nonbinding. After three years of close collaboration with Boris Yeltsin’s government, the G7 formally admitted the Russian Federation in 1997 at the behest of British Prime Minister Tony Blair and U.S. President Bill Clinton. In recent years, the group has been moving toward a more inclusive model, recognizing the importance of countries such as China, India, South Africa, and Brazil.
   See also BRIC.

Historical Dictionary of the Russian Federation. . 2010.

Look at other dictionaries:

  • Group of Eight — Group of Eight, the the full name of the ↑G8 …   Dictionary of contemporary English

  • Group of Eight — ( G 8) The G 7 countries plus Russia. Bloomberg Financial Dictionary * * * Group of Eight ˌGroup of ˈEight abbreviation G8 noun ECONOMICS ORGANIZATIONS the countries with the eight largest economies: Britain, Canada, France, Germany, Italy, Japan …   Financial and business terms

  • Group of Eight - G-8 — Eight of the world s economically leading countries that in a cooperative effort meet periodically to address international economic and monetary issues. G 8 is considered global policy making at its highest level. The G 8 includes the Group of… …   Investment dictionary

  • Group of Eight — n. G8, group of the eight most industrialized countris in the world (composed of Canada, United States, France, Italy, Germany, Japan, Russia and the United Kingdom) which send delegates to meet and discuss economic issues …   English contemporary dictionary

  • Group of Eight — G8 The Group of Seven plus Russia. Russia was admitted as a full member of this economic summit grouping in June 2002 …   Big dictionary of business and management

  • Group of Eight — ➡ G8 * * * …   Universalium

  • Group of Eight —   Canada, France, Germany, Italy, Japan, Russia, UK and USA. The world richest countries whose representatives regularly meet at all levels to determine economic, social and political policy which can reverberate around the world due to the… …   Geography glossary

  • Group of Eight — ⇡ G 8 …   Lexikon der Economics

  • Group of Eight —  or G8  Leading industrial nations that meet regularly to discuss economic and trading issues. They are Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States …   Bryson’s dictionary for writers and editors

  • Group of Eight — United States, Japan, Great Britain, Germany, France, Italy, Canada and Russia …   Eponyms, nicknames, and geographical games