“The Group of Eight” is so to say the inner club created in 1975. Initially it was the group of Six, then the Group of Seven, and later Russia also joined the club.
But is there still the sense for the leaders of eight countries to meet apart from showing their common touch towards each other? What are these summits for, at the time when the influence of the developed countries on the world economy is growing weaker?
This analyst considers the meetings of the Group of Twenty with the participation of the leaders of the large developing countries much more efficient. Continue reading →

The leaders of the Group of Eight countries took the decision to make the round sums appropriations to help to the North African and Middle Eastern countries starting the democratic path of development. The Deauville Partnership was already arranged with Tunisia and Egypt; within the next two years these countries will be assigned a sum of more than 15 billion of euros. Continue reading →

The crisis in Libya and the natural disaster consequences in Japan became the main subject discussed by the Ministers for Foreign Affairs of the Group of Eight countries at their meeting in Paris. As for the first point, the meeting participants were not able to develop the general line, but as for the tragedy in Japan, it caused more than joint reaction: the head of the Japanese diplomacy was given the assurances of condolence and the pledges of any aid. Continue reading →

The virtual space is worth attention: the Internet Group of Eight’s forum started in Paris before the summit of the Leaders of the Group of Eight took place in Dovile. The number one subject at the summit in Paris is the concession of freedom and civil rights in the worldwide web. One of the first persons to speak on the subject was Nicolas Sarkozy: Continue reading →

At the summit in Toronto the G20 countries promised to ratify the agreements on the quota and votes reformation in the International Monetary Fund (IMF), and also approved the similar reformation of The World Bank. In 2009 in September in Pittsburgh the leaders of the G20 countries arranged to revise the quota of the advanced countries to the developing countries by 5% in the IMF and by 3% in the Word Bank. Continue reading →

“The Group of Twenty” coordinated the bankruptcy principles for the financial institutions, as well as the taxpayers’ protection in case of bankruptcy. This was reported by the President of RF Dmitry Medvedev, who appeared at the meeting with journalists in Toronto at the end of the summit. Continue reading →

Before the summit one of the most topical problems was the suggestion of Great Britain (approved by the USA) to “the Group of Twenty” to introduce a unified levy on banking in all of the twenty member countries as the recovery of the expenses already incurred in the period of crisis or as the insurance policy in relation of possible public expenses related to the saving the financial institutions from the crisis. Continue reading →

The decrease of deficit in budgets and scales of the national debt in opinion of the most part of forum participants were one of the most topical questions of the discussion. Together with it the range of countries which gave the largest financial aid to the financial sector in the period of crisis to save the banks – such as the USA and the EU countries – are very cautious as for this idea, acknowledging though its reasonableness. Continue reading →

The leaders of “the Group of Twenty” arranged to extend the ban on the protective measures in the domain of trade and investments up to the end of the year 2013, as well as the ban on the imposition of the new export restraints. “We extend our obligation for three more years (up to the end of the year 2013) to abstain from the increase of the effective barriers or the creation of the new ones on the way of investments and goods or service trade, on the imposition of the new export restraints or on the realization of the measures of the export stimulation contrary to the World Trade Organization (WTO) regulations, and we also undertake to correct such measures as they appear. Continue reading →

The summit of “the Group of Twenty” in the large Canadian city Toronto came to an end with the adoption of the final declaration as a result. This declaration evidently denotes the disagreement between the leading economical world countries as for the ways out of the recession and for the recovery as in world economy, as in national economies. Continue reading →