What is the G8?

Article published: Wednesday, October 1st 2008

Alex P. delves into the history of the G8 meetings for MULE

The G8s origins lie in the Library Group, an informal gathering of senior financial officials from Europe, Japan and the US. They formed in 1974 to discuss issues relating to the contemporary economic recession and oil crisis.

At the instigation of France, the 1975 meeting included national leaders and it was agreed to meet annually. The six nations involved became known as the G6, and later the G7 and G8 after the respective entries of Canada (1976) and Russia (1998). The G8 nations account for 65 per cent of the worlds economic output.

Though the G8 was set up as a forum for economic discussion, it now also deals with political issues. Recent summits have covered the developing world, the Middle East and Iraq. Todays G8 is a far cry from the fireside chats of the Library Group. Holed up behind fortress-like security, meetings are accompanied by armies of officials, global media coverage and large scale protests.

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